Wellington Management Group LLP Decreases Position in SBA Communications Corporation $SBAC

Wellington Management Group LLP trimmed its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 38.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,766 shares of the technology company’s stock after selling 53,120 shares during the quarter. Wellington Management Group LLP’s holdings in SBA Communications were worth $14,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in SBA Communications by 24.1% in the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after purchasing an additional 2,328,837 shares in the last quarter. State Street Corp raised its position in SBA Communications by 3.3% during the fourth quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock valued at $950,054,000 after acquiring an additional 158,738 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SBA Communications by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after acquiring an additional 16,153 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in SBA Communications by 9.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock valued at $393,615,000 after acquiring an additional 179,591 shares during the period. Finally, Invesco Ltd. boosted its position in SBA Communications by 0.5% in the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after purchasing an additional 9,656 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC opened at $189.44 on Tuesday. The stock has a 50 day moving average price of $183.39 and a 200 day moving average price of $194.04. SBA Communications Corporation has a one year low of $162.41 and a one year high of $224.46. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.89 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. During the same quarter last year, the firm posted $3.17 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that SBA Communications Corporation will post 11.41 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. SBA Communications’s payout ratio is presently 53.88%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SBAC shares. Wolfe Research raised shares of SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th. Citigroup restated a “market perform” rating on shares of SBA Communications in a research report on Tuesday, August 4th. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a report on Monday, August 24th. TD Cowen reissued a “buy” rating on shares of SBA Communications in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company upgraded SBA Communications from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $225.53.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the sale, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.50% of the company’s stock.

SBA Communications 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.