Barrow Hanley Mewhinney & Strauss LLC Decreases Holdings in SBA Communications Corporation $SBAC

Barrow Hanley Mewhinney & Strauss LLC trimmed its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 99.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 848 shares of the technology company’s stock after selling 1,380,800 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in SBA Communications were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of SBA Communications in the third quarter worth $27,000. Geneos Wealth Management Inc. lifted its holdings in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the period. SJS Investment Consulting Inc. purchased a new position in SBA Communications in the third quarter worth about $48,000. Center for Financial Planning Inc. purchased a new position in SBA Communications in the third quarter worth about $50,000. Finally, Avalon Trust Co bought a new stake in shares of SBA Communications during the 3rd quarter valued at about $58,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. UBS Group cut their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. 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. Royal Bank Of Canada increased their price target on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley dropped their price target on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Trading Down 2.7%

Shares of NASDAQ:SBAC opened at $188.56 on Thursday. The stock has a 50 day moving average of $191.08 and a 200 day moving average of $193.75. The company has a market cap of $20.09 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. SBA Communications Corporation has a 12-month low of $177.49 and a 12-month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The company had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. During the same quarter last year, the business earned $3.47 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is 46.59%.

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.