Thurston Springer Miller Herd & Titak Inc. Acquires Shares of 476 SBA Communications Co. (NASDAQ:SBAC)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 476 shares of the technology company’s stock, valued at approximately $93,000.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in SBA Communications by 191.3% during the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares in the last quarter. Franklin Resources Inc. raised its position in SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after purchasing an additional 19,462 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of SBA Communications during the 4th quarter valued at $7,422,000. Wellington Management Group LLP raised its position in shares of SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after acquiring an additional 192,791 shares during the last quarter. Finally, Clear Rock Advisors LLC bought a new stake in shares of SBA Communications during the 4th quarter valued at $1,900,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on SBAC. Wells Fargo & Company cut shares of 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 research report on Monday, July 15th. Citigroup dropped their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Barclays decreased their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Royal Bank of Canada boosted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday. Finally, The Goldman Sachs Group started coverage on shares of SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target for the company. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $241.67.

SBA Communications Trading Down 0.4 %

Shares of SBA Communications stock traded down $0.79 during trading hours on Tuesday, reaching $220.32. 1,049,337 shares of the company’s stock were exchanged, compared to its average volume of 971,660. The company has a 50 day moving average of $201.10 and a two-hundred day moving average of $206.43. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a market cap of $23.67 billion, a P/E ratio of 43.60, a P/E/G ratio of 0.73 and a beta of 0.65.

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

SBA Communications Dividend Announcement

The company 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 $0.98 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.78%. SBA Communications’s payout ratio is 76.86%.

Insider Activity

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

About SBA Communications

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.