Atria Investments Inc Sells 652 Shares of SBA Communications Co. (NASDAQ:SBAC)

Atria Investments Inc decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,532 shares of the technology company’s stock after selling 652 shares during the quarter. Atria Investments Inc’s holdings in SBA Communications were worth $1,572,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at $35,000. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter valued at $32,000. Family Firm Inc. bought a new stake in shares of SBA Communications in the 2nd quarter valued at $36,000. Friedenthal Financial bought a new stake in shares of SBA Communications in the 3rd quarter valued at $50,000. Finally, Farther Finance Advisors LLC increased its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBAC. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Morgan Stanley upped their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group upped their price objective 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. Three equities research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Performance

SBAC opened at $221.09 on Friday. The firm has a market cap of $23.77 billion, a P/E ratio of 34.38, a PEG ratio of 0.74 and a beta of 0.68. The firm has a 50-day moving average of $236.70 and a 200 day moving average of $216.02. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 EPS. Equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 1.77%. SBA Communications’s dividend payout ratio is presently 61.83%.

Insiders Place Their Bets

In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated 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 directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 1,500 shares of the 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 sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.