Schroder Investment Management Group Cuts Stake in SBA Communications Corporation $SBAC

Schroder Investment Management Group decreased its stake in SBA Communications Corporation (NASDAQ:SBAC) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,648 shares of the technology company’s stock after selling 7,394 shares during the period. Schroder Investment Management Group’s holdings in SBA Communications were worth $26,012,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $27,000. Geneos Wealth Management Inc. raised 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 during the period. SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $48,000. Center for Financial Planning Inc. purchased a new position in SBA Communications in the third quarter valued at approximately $50,000. Finally, Avalon Trust Co purchased a new position in SBA Communications in the third quarter valued at approximately $58,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC opened at $184.73 on Friday. The stock’s 50-day simple moving average is $190.91 and its 200 day simple moving average is $193.68. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. SBA Communications Corporation has a 52-week low of $177.49 and a 52-week high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The business had revenue of $719.58 million during the quarter, compared to analyst estimates of $725.80 million. During the same quarter in the previous year, the firm earned $3.47 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast 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. Investors of record on Friday, March 13th will be paid a dividend of $1.25 per share. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, March 13th. SBA Communications’s dividend payout ratio is presently 46.59%.

Wall Street Analyst Weigh In

SBAC has been the topic of several research reports. Sanford C. Bernstein assumed coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price on the stock. UBS Group cut their price target on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Morgan Stanley lowered their price objective on 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. JPMorgan Chase & Co. dropped their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Finally, Royal Bank Of Canada increased 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.17.

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.