SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Torray Investment Partners LLC

Torray Investment Partners LLC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,494 shares of the technology company’s stock after purchasing an additional 674 shares during the period. Torray Investment Partners LLC’s holdings in SBA Communications were worth $1,667,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SBAC. Gilbert & Cook Inc. grew its holdings in shares of SBA Communications by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock worth $605,000 after purchasing an additional 183 shares during the last quarter. M&T Bank Corp increased its position in SBA Communications by 13.8% during the fourth quarter. M&T Bank Corp now owns 5,157 shares of the technology company’s stock worth $1,308,000 after buying an additional 626 shares during the period. Private Advisor Group LLC lifted its stake in SBA Communications by 5.9% in the fourth quarter. Private Advisor Group LLC now owns 1,570 shares of the technology company’s stock valued at $398,000 after buying an additional 88 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of SBA Communications by 17.5% in the fourth quarter. Apollon Wealth Management LLC now owns 1,246 shares of the technology company’s stock valued at $316,000 after acquiring an additional 186 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of SBA Communications during the fourth quarter worth approximately $442,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. The Goldman Sachs Group started coverage on shares of SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective on the stock. BMO Capital Markets dropped their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company downgraded SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $230.00 to $220.00 in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

Insider Buying and Selling

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 2.2 %

NASDAQ SBAC traded up $5.14 during mid-day trading on Friday, hitting $238.51. The stock had a trading volume of 1,312,844 shares, compared to its average volume of 935,823. The company has a 50 day simple moving average of $215.05 and a 200 day simple moving average of $206.98. The company has a market cap of $25.63 billion, a price-to-earnings ratio of 46.77, a P/E/G ratio of 0.70 and a beta of 0.67. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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 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 analysts’ expectations of $665.21 million. During the same quarter in the prior year, the firm earned $3.24 earnings per share. SBA Communications’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that SBA Communications Co. will post 12.53 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 paid a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

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.