Polar Asset Management Partners Inc. Decreases Stock Holdings in SBA Communications Corporation $SBAC

Polar Asset Management Partners Inc. decreased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 76.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,300 shares of the technology company’s stock after selling 33,400 shares during the period. Polar Asset Management Partners Inc.’s holdings in SBA Communications were worth $1,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Norges Bank purchased a new stake in SBA Communications during the 2nd quarter valued at $351,084,000. Dodge & Cox boosted its stake in shares of SBA Communications by 12.3% in the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after buying an additional 1,058,803 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of SBA Communications by 1,328.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock worth $122,637,000 after buying an additional 485,656 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of SBA Communications by 65.0% in the third quarter. Nordea Investment Management AB now owns 1,182,076 shares of the technology company’s stock worth $229,145,000 after acquiring an additional 465,558 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after acquiring an additional 403,285 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $182.28 on Friday. The stock has a market cap of $19.42 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.81 and a beta of 0.86. The stock’s fifty day moving average is $190.80 and its 200 day moving average is $192.77. SBA Communications Corporation has a one year low of $177.49 and a one year high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million during the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.SBA Communications’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.47 earnings per share. Analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The business 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 a boost from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio is presently 52.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays lowered their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. 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. Sanford C. Bernstein initiated coverage on shares of SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective on the stock. Scotiabank dropped their price objective on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, Morgan Stanley cut their target price on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus target price of $232.17.

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.