Oak Thistle LLC Cuts Stake in SBA Communications Corporation $SBAC

Oak Thistle LLC lessened its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 39.5% during the 3rd quarter, Holdings Channel reports. The firm owned 6,970 shares of the technology company’s stock after selling 4,554 shares during the period. Oak Thistle LLC’s holdings in SBA Communications were worth $1,348,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SBAC. Norges Bank bought a new position in SBA Communications in the 2nd quarter worth approximately $351,084,000. Dodge & Cox lifted its holdings in shares of SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock worth $1,866,843,000 after buying an additional 1,139,009 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of SBA Communications by 799.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,308 shares of the technology company’s stock worth $134,166,000 after buying an additional 507,815 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in SBA Communications by 1,328.4% during the second quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock valued at $122,637,000 after acquiring an additional 485,656 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in SBA Communications by 394.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company’s stock valued at $88,497,000 after acquiring an additional 320,819 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.5%

Shares of NASDAQ SBAC opened at $190.95 on Thursday. SBA Communications Corporation has a 12-month low of $185.13 and a 12-month high of $245.16. The firm’s 50-day moving average price is $193.78 and its 200-day moving average price is $209.44. The stock has a market capitalization of $20.35 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 1.65 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The company had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. During the same period in the previous year, the firm posted $3.32 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio is presently 57.89%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Bank of America cut SBA Communications from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Williams Trading set a $237.00 price target on SBA Communications in a research note on Tuesday, November 4th. KeyCorp cut their price target on SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Finally, Wells Fargo & Company reduced their price objective on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $237.00.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.