Nisa Investment Advisors LLC Reduces Position in SBA Communications Corporation $SBAC

Nisa Investment Advisors LLC decreased its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 28.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,383 shares of the technology company’s stock after selling 9,182 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SBA Communications were worth $4,521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SBAC. Jones Financial Companies Lllp grew its stake in shares of SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after acquiring an additional 551 shares during the period. Empowered Funds LLC boosted its holdings in SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after purchasing an additional 229 shares during the last quarter. Focus Partners Wealth grew its position in SBA Communications by 9.0% in the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after purchasing an additional 266 shares during the period. Geneos Wealth Management Inc. grew its position in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new stake in SBA Communications during the 1st quarter valued at $1,380,000. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley cut their price objective on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. TD Cowen cut their price target on SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Williams Trading set a $237.00 price target on shares of SBA Communications in a research report on Tuesday, November 4th. Royal Bank Of Canada dropped their price objective on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, Barclays reduced their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $237.00.

SBA Communications Stock Down 0.1%

SBAC stock opened at $181.20 on Monday. The business’s 50-day moving average price is $192.49 and its 200-day moving average price is $204.61. The stock has a market cap of $19.31 billion, a P/E ratio of 23.62, a PEG ratio of 1.60 and a beta of 0.87. SBA Communications Corporation has a twelve month low of $179.89 and a twelve month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (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 during the quarter, compared to analyst estimates of $715.65 million. During the same period in the prior year, the firm posted $3.32 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, 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 company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were paid a dividend of $1.11 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.5%. SBA Communications’s payout ratio is 57.89%.

About SBA Communications

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.