QRG Capital Management Inc. Has $441,000 Stock Position in SBA Communications Corporation $SBAC

QRG Capital Management Inc. lessened its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 74.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,281 shares of the technology company’s stock after selling 6,753 shares during the quarter. QRG Capital Management Inc.’s holdings in SBA Communications were worth $441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in 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 in the last quarter. Empowered Funds LLC raised its position in shares of SBA Communications by 12.6% during 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 period. Focus Partners Wealth raised its position in shares of SBA Communications by 9.0% during the first 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. lifted its holdings in shares of 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in SBA Communications by 3.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,074 shares of the technology company’s stock valued at $3,526,000 after purchasing an additional 460 shares during the period. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research reports. UBS Group lowered their price objective on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets lowered their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Williams Trading set a $237.00 price target on SBA Communications in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada lowered their price objective on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $187.16 on Friday. SBA Communications Corporation has a 52 week low of $179.89 and a 52 week high of $245.16. The firm has a 50-day moving average price of $190.83 and a two-hundred day moving average price of $201.86. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.87.

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

SBA Communications Announces Dividend

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 dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is currently 57.89%.

SBA Communications 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.