SBA Communications Corporation $SBAC Shares Sold by Crawford Investment Counsel Inc.

Crawford Investment Counsel Inc. lessened its stake in SBA Communications Corporation (NASDAQ:SBAC) by 92.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,365 shares of the technology company’s stock after selling 64,077 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in SBA Communications were worth $1,037,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBAC. Quent Capital LLC acquired a new position in shares of SBA Communications during the third quarter worth $27,000. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the period. SJS Investment Consulting Inc. acquired a new position in SBA Communications in the 3rd quarter worth $48,000. Center for Financial Planning Inc. acquired a new position in SBA Communications in the 3rd quarter worth $50,000. Finally, Allworth Financial LP boosted its position in SBA Communications by 67.9% in the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock valued at $64,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $188.04 on Monday. The firm has a market cap of $20.04 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The firm’s 50-day simple moving average is $190.82 and its 200-day simple moving average is $193.17. SBA Communications Corporation has a 1 year low of $177.49 and a 1 year high of $245.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly 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. The business had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.47 earnings per share. On average, equities analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s dividend payout ratio (DPR) is 52.47%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays lowered their target price 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. Morgan Stanley reduced their price target on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Wells Fargo & Company lowered their price objective on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Finally, Scotiabank cut their target price on 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. One equities 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 company’s stock. Based on data from MarketBeat, SBA Communications currently has an average 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.