Bristol John W & Co. Inc. NY Trims Stake in SBA Communications Corporation $SBAC

Bristol John W & Co. Inc. NY cut its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 400,741 shares of the technology company’s stock after selling 7,266 shares during the period. Bristol John W & Co. Inc. NY owned 0.37% of SBA Communications worth $77,483,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays cut their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. JPMorgan Chase & Co. lowered their price target 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. UBS Group dropped their price target 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. Scotiabank decreased 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 research report on Monday, March 2nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. One research 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. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Trading Down 2.0%

NASDAQ SBAC opened at $184.73 on Friday. SBA Communications Corporation has a 12 month low of $177.49 and a 12 month high of $245.16. The stock has a market cap of $19.68 billion, a PE ratio of 19.38, a P/E/G ratio of 1.87 and a beta of 0.86. The stock’s 50 day moving average is $190.91 and its 200 day moving average is $193.68.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The firm 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 posted $3.47 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is presently 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.