Mount Yale Investment Advisors LLC Trims Position in SBA Communications Co. (NASDAQ:SBAC)

Mount Yale Investment Advisors LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,549 shares of the technology company’s stock after selling 2,770 shares during the period. Mount Yale Investment Advisors LLC’s holdings in SBA Communications were worth $4,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SBAC. Sunbelt Securities Inc. raised its stake in shares of SBA Communications by 20.8% during the first quarter. Sunbelt Securities Inc. now owns 441 shares of the technology company’s stock worth $96,000 after purchasing an additional 76 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of SBA Communications by 6.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock worth $807,000 after acquiring an additional 237 shares during the period. First Bank & Trust boosted its holdings in shares of SBA Communications by 3.6% in the first quarter. First Bank & Trust now owns 6,967 shares of the technology company’s stock valued at $1,510,000 after acquiring an additional 240 shares in the last quarter. Cullinan Associates Inc. acquired a new position in shares of SBA Communications during the first quarter worth about $217,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SBA Communications by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 229,677 shares of the technology company’s stock worth $49,771,000 after purchasing an additional 3,758 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 1.0 %

Shares of NASDAQ:SBAC opened at $246.07 on Friday. The business has a fifty day simple moving average of $235.74 and a 200-day simple moving average of $213.13. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The company has a market cap of $26.45 billion, a P/E ratio of 51.91, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share 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 company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the previous year, the company earned $3.24 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Sell-side analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 82.70%.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of analyst reports. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Royal Bank of Canada boosted their target price on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. TD Cowen cut their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.58.

Insider Activity at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the firm’s 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 directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by 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.