Robeco Institutional Asset Management B.V. Trims Stake in SBA Communications Corporation $SBAC

Robeco Institutional Asset Management B.V. cut its position in SBA Communications Corporation (NASDAQ:SBAC) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,534 shares of the technology company’s stock after selling 4,815 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in SBA Communications were worth $5,904,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in shares of SBA Communications by 1.7% in the third quarter. Asset Management One Co. Ltd. now owns 46,086 shares of the technology company’s stock valued at $8,911,000 after acquiring an additional 765 shares during the period. SJS Investment Consulting Inc. acquired a new stake in SBA Communications during the 3rd quarter worth $48,000. SteelPeak Wealth LLC purchased a new position in SBA Communications during the 3rd quarter worth $2,618,000. Generali Asset Management SPA SGR increased its stake in SBA Communications by 3.2% in the third quarter. Generali Asset Management SPA SGR now owns 5,811 shares of the technology company’s stock valued at $1,124,000 after purchasing an additional 181 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of SBA Communications in the third quarter valued at about $251,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $181.20 on Friday. The business’s fifty day moving average price is $192.49 and its 200 day moving average price is $204.81. The firm has a market capitalization of $19.31 billion, a PE ratio of 23.62, a P/E/G ratio of 1.58 and a beta of 0.87. SBA Communications Corporation has a 1-year low of $179.89 and a 1-year high of $245.16.

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

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SBAC shares. Wells Fargo & Company dropped their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. The Goldman Sachs Group lowered their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. TD Cowen decreased their price target on SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, UBS Group dropped their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $237.00.

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.