Kentucky Retirement Systems Sells 99 Shares of SBA Communications Co. (NASDAQ:SBAC)

Kentucky Retirement Systems lessened its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,632 shares of the technology company’s stock after selling 99 shares during the period. Kentucky Retirement Systems’ holdings in SBA Communications were worth $2,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in SBA Communications in the fourth quarter worth approximately $37,000. Pinnacle Bancorp Inc. raised its holdings in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP lifted its position in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in SBA Communications during the fourth quarter valued at about $43,000. Finally, Clear Street Markets LLC grew its holdings in SBA Communications by 73.4% during the third quarter. Clear Street Markets LLC now owns 248 shares of the technology company’s stock valued at $50,000 after purchasing an additional 105 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 1.7 %

SBAC opened at $199.38 on Monday. The company has a market capitalization of $21.42 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 0.59 and a beta of 0.59. The firm has a 50-day simple moving average of $205.70 and a two-hundred day simple moving average of $222.49. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 earnings per share. As a group, sell-side analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBAC. Citigroup lowered their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Barclays dropped their price target on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. KeyCorp reduced their price objective on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. TD Cowen lowered their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company cut their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications has a consensus rating of “Buy” and a consensus price target of $252.25.

Get Our Latest Research Report on SBAC

SBA Communications Company Profile

(Free Report)

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

See Also

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBACFree Report).

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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