Swiss National Bank Sells 17,200 Shares of SBA Communications Corporation $SBAC

Swiss National Bank lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 309,800 shares of the technology company’s stock after selling 17,200 shares during the quarter. Swiss National Bank owned 0.29% of SBA Communications worth $59,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in SBA Communications by 2.3% during the 3rd 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 last quarter. Dodge & Cox raised its stake in shares of SBA Communications by 1.5% during the second quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock valued at $2,021,619,000 after acquiring an additional 123,230 shares during the last quarter. State Street Corp lifted its holdings in shares of SBA Communications by 0.5% during the second quarter. State Street Corp now owns 4,613,181 shares of the technology company’s stock worth $1,083,359,000 after purchasing an additional 24,793 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings 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 purchasing an additional 366,491 shares during the period. Finally, Invesco Ltd. grew its stake in shares of SBA Communications by 19.8% in the second quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after purchasing an additional 259,876 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of a number of recent research reports. Barclays decreased their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. JPMorgan Chase & Co. cut their target price on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Royal Bank Of Canada upped their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley lowered their price objective on 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. Finally, Scotiabank cut their price objective on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.17.

SBA Communications Stock Down 2.7%

Shares of NASDAQ SBAC opened at $188.56 on Thursday. The company has a market capitalization of $20.09 billion, a PE ratio of 19.79, a P/E/G ratio of 1.93 and a beta of 0.86. SBA Communications Corporation has a twelve month low of $177.49 and a twelve month high of $245.16. The firm has a fifty day simple moving average of $191.08 and a 200 day simple moving average of $193.75.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, beating 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 business had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. During the same quarter in the prior year, the firm posted $3.47 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently announced 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. 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 dividend payout ratio is currently 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.