SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Sora Investors LLC

Sora Investors LLC trimmed its stake in SBA Communications Co. (NASDAQ:SBAC) by 63.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 20,000 shares of the technology company’s stock after selling 35,000 shares during the period. Sora Investors LLC’s holdings in SBA Communications were worth $4,814,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of SBA Communications by 31.4% in the 3rd quarter. Quantinno Capital Management LP now owns 28,766 shares of the technology company’s stock valued at $6,924,000 after purchasing an additional 6,882 shares in the last quarter. Quarry LP purchased a new position in SBA Communications in the third quarter valued at $136,000. Rush Island Management LP acquired a new stake in SBA Communications in the third quarter valued at $47,901,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in SBA Communications during the 3rd quarter worth about $20,123,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James upped their price target on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Barclays boosted their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Trading Up 0.3 %

Shares of SBAC opened at $221.58 on Friday. The company has a 50-day moving average of $231.39 and a two-hundred day moving average of $218.79. The stock has a market cap of $23.82 billion, a P/E ratio of 34.95, a PEG ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the business earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts forecast that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.77%. SBA Communications’s payout ratio is currently 61.83%.

SBA Communications Company 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.