SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4,500.0% during the second quarter, Holdings Channel reports. The firm owned 276 shares of the technology company’s stock after buying an additional 270 shares during the period. Versant Capital Management Inc’s holdings in SBA Communications were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SBA Communications during the second quarter valued at $93,000. DNB Asset Management AS boosted its stake in SBA Communications by 8.1% during the 2nd quarter. DNB Asset Management AS now owns 17,647 shares of the technology company’s stock valued at $3,464,000 after purchasing an additional 1,322 shares during the period. GAMMA Investing LLC grew its position in SBA Communications by 31.8% in the 2nd quarter. GAMMA Investing LLC now owns 792 shares of the technology company’s stock worth $155,000 after purchasing an additional 191 shares during the last quarter. Clear Rock Advisors LLC grew its position in SBA Communications by 6.0% in the 1st quarter. Clear Rock Advisors LLC now owns 7,944 shares of the technology company’s stock worth $1,721,000 after purchasing an additional 453 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of SBA Communications by 2.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 23,266 shares of the technology company’s stock valued at $5,015,000 after purchasing an additional 453 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBAC shares. Barclays reduced their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets reduced their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

Insider Activity at SBA Communications

In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $0.79 during trading hours on Tuesday, hitting $220.32. 1,049,337 shares of the company’s stock traded hands, compared to its average volume of 971,660. The company’s fifty day simple moving average is $201.10 and its two-hundred day simple moving average is $206.43. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 0.73 and a beta of 0.65. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter last year, the firm posted $3.24 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio is 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.