SRS Capital Advisors Inc. Trims Stake in SBA Communications Co. (NASDAQ:SBAC)

SRS Capital Advisors Inc. lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 66.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 555 shares of the technology company’s stock after selling 1,108 shares during the quarter. SRS Capital Advisors Inc.’s holdings in SBA Communications were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of SBAC. Invesco Ltd. increased its position in shares of SBA Communications by 140.6% during the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after buying an additional 1,252,764 shares during the period. Ameriprise Financial Inc. grew its holdings in SBA Communications by 115.3% in the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after purchasing an additional 727,163 shares during the period. Bristol John W & Co. Inc. NY purchased a new stake in SBA Communications in the third quarter worth about $92,725,000. Diamond Hill Capital Management Inc. grew its holdings in SBA Communications by 29.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after purchasing an additional 226,113 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in SBA Communications by 75.0% in the third quarter. Envestnet Asset Management Inc. now owns 358,026 shares of the technology company’s stock worth $71,666,000 after purchasing an additional 153,476 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SBAC. BMO Capital Markets cut their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Barclays cut their price target on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen cut their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. Finally, Citigroup cut their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $258.23.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 0.4 %

SBAC traded down $0.78 during trading on Friday, hitting $193.09. The company’s stock had a trading volume of 1,072,792 shares, compared to its average volume of 940,862. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The firm has a market cap of $20.87 billion, a PE ratio of 37.86, a P/E/G ratio of 1.20 and a beta of 0.59. The business’s 50 day simple moving average is $208.78 and its 200-day simple moving average is $222.32.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $3.13 EPS. Equities research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. SBA Communications’s payout ratio is 76.86%.

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.