Cwm LLC Lowers Position in SBA Communications Corporation $SBAC

Cwm LLC decreased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 72.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,084 shares of the technology company’s stock after selling 10,898 shares during the period. Cwm LLC’s holdings in SBA Communications were worth $790,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in SBA Communications during the second quarter valued at approximately $351,084,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in SBA Communications by 799.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,308 shares of the technology company’s stock valued at $134,166,000 after acquiring an additional 507,815 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of SBA Communications by 1,328.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock valued at $122,637,000 after acquiring an additional 485,656 shares during the period. Nomura Holdings Inc. increased its holdings in shares of SBA Communications by 1,175.4% in the 2nd quarter. Nomura Holdings Inc. now owns 341,673 shares of the technology company’s stock valued at $80,238,000 after acquiring an additional 314,883 shares during the period. Finally, Invesco Ltd. raised its position in shares of SBA Communications by 19.8% in the 2nd quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after acquiring an additional 259,876 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several analyst reports. TD Cowen cut their target price on SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. KeyCorp reduced their price objective on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Wells Fargo & Company decreased their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 16th. Morgan Stanley cut their price target on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, October 16th. Finally, Barclays reduced their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $237.00.

SBA Communications Price Performance

NASDAQ SBAC opened at $181.42 on Thursday. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.64 and a beta of 0.87. The stock’s fifty day moving average price is $192.89 and its 200 day moving average price is $205.56. SBA Communications Corporation has a 1 year low of $181.38 and a 1 year high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The business had revenue of $732.33 million for the quarter, compared to analyst estimates of $715.65 million. During the same period in the prior year, the company earned $3.32 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio is 57.89%.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.