Capital International Investors Decreases Stake in SBA Communications Corporation $SBAC

Capital International Investors reduced its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 46.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,549 shares of the technology company’s stock after selling 170,442 shares during the quarter. Capital International Investors owned 0.18% of SBA Communications worth $38,003,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SBAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in SBA Communications by 3.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock valued at $42,202,000 after purchasing an additional 5,246 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of SBA Communications by 58.2% during the second quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock valued at $1,292,000 after acquiring an additional 2,023 shares during the period. Donoghue Forlines LLC acquired a new position in shares of SBA Communications during the second quarter valued at $2,824,000. ProShare Advisors LLC grew its position in shares of SBA Communications by 27.5% during the third quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock worth $7,538,000 after acquiring an additional 8,404 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in shares of SBA Communications by 24.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after acquiring an additional 366,491 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $184.73 on Friday. SBA Communications Corporation has a 1 year low of $177.49 and a 1 year high of $245.16. The business’s fifty day moving average is $190.91 and its two-hundred day moving average is $193.68. The stock has a market capitalization of $19.68 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.87 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $725.80 million. During the same period last year, the company posted $3.47 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada upped their target price 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. JPMorgan Chase & Co. cut their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Wells Fargo & Company reduced their price objective on 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. Scotiabank decreased their price objective on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Finally, Sanford C. Bernstein started coverage on SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $232.17.

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.