SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 14.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,417 shares of the technology company’s stock after selling 12,378 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.07% of SBA Communications worth $16,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Glassman Wealth Services boosted its stake in SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. grew its holdings in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares during the last quarter. Allworth Financial LP increased its position in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after acquiring an additional 45 shares during the period. Quarry LP raised its stake in SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in SBA Communications during the 4th quarter worth approximately $43,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SBAC shares. Wells Fargo & Company lowered SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $230.00 to $220.00 in a report on Monday, July 15th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets reduced their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday. KeyCorp boosted their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, TD Cowen reduced their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.54.

SBA Communications Trading Up 1.0 %

Shares of NASDAQ:SBAC traded up $2.15 during trading on Wednesday, hitting $220.09. 333,506 shares of the stock were exchanged, compared to its average volume of 951,195. The company has a market cap of $23.65 billion, a PE ratio of 42.73, a P/E/G ratio of 0.70 and a beta of 0.65. The company has a fifty day moving average price of $198.32 and a two-hundred day moving average price of $206.76. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.92%. The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the prior year, the company earned $3.24 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

SBA Communications Profile

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.