Landscape Capital Management L.L.C. Sells 3,996 Shares of SBA Communications Co. (NASDAQ:SBAC)

Landscape Capital Management L.L.C. reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 76.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,254 shares of the technology company’s stock after selling 3,996 shares during the period. Landscape Capital Management L.L.C.’s holdings in SBA Communications were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in SBA Communications during the 3rd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the second quarter worth $32,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the third quarter worth $35,000. Family Firm Inc. bought a new position in SBA Communications during the 2nd quarter worth $36,000. Finally, Global X Japan Co. Ltd. bought a new position in SBA Communications during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBAC. Barclays increased their price target on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their price target on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada increased their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets boosted their target price on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Performance

SBAC stock opened at $220.66 on Monday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock’s 50 day simple moving average is $234.22 and its 200 day simple moving average is $217.46. The company has a market cap of $23.73 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68.

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

SBA Communications Dividend Announcement

The firm 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. 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 payout ratio is presently 61.83%.

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.