Summit Trail Advisors LLC Acquires 299 Shares of SBA Communications Co. (NASDAQ:SBAC)

Summit Trail Advisors LLC boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,423 shares of the technology company’s stock after buying an additional 299 shares during the period. Summit Trail Advisors LLC’s holdings in SBA Communications were worth $1,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SBAC. Ashton Thomas Securities LLC acquired a new stake in shares of SBA Communications during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the 3rd quarter worth $35,000. Ridgewood Investments LLC bought a new position in SBA Communications during the 2nd quarter worth about $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications in the 2nd quarter valued at about $36,000. Finally, Friedenthal Financial bought a new stake in shares of SBA Communications in the third quarter valued at about $50,000. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley raised their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Barclays raised their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

SBAC stock opened at $220.66 on Monday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 0.75 and a beta of 0.68. The company has a 50 day simple moving average of $234.22 and a 200 day simple moving average of $217.46.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the company posted $3.34 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.