Voya Investment Management LLC Cuts Stock Holdings in SBA Communications Corporation $SBAC

Voya Investment Management LLC reduced its stake in SBA Communications Corporation (NASDAQ:SBAC) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,640 shares of the technology company’s stock after selling 7,619 shares during the period. Voya Investment Management LLC’s holdings in SBA Communications were worth $7,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBAC. Contravisory Investment Management Inc. bought a new stake in shares of SBA Communications in the third quarter worth about $392,000. Hilltop National Bank grew its holdings in SBA Communications by 33.7% during the 3rd quarter. Hilltop National Bank now owns 806 shares of the technology company’s stock valued at $156,000 after buying an additional 203 shares in the last quarter. Czech National Bank grew its holdings in SBA Communications by 3.8% during the 3rd quarter. Czech National Bank now owns 27,273 shares of the technology company’s stock valued at $5,273,000 after buying an additional 1,008 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in SBA Communications by 16.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,388 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 773 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of SBA Communications by 250.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 6,746 shares of the technology company’s stock worth $1,304,000 after acquiring an additional 4,822 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Wells Fargo & Company lowered their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 16th. UBS Group dropped their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Williams Trading set a $237.00 target price on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Citigroup lowered their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.00.

SBA Communications Stock Up 0.7%

SBAC stock opened at $191.91 on Wednesday. SBA Communications Corporation has a twelve month low of $185.13 and a twelve month high of $245.16. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87. The firm’s fifty day simple moving average is $193.92 and its two-hundred day simple moving average is $208.22.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The firm had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.32 EPS. As a group, equities research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio is currently 57.89%.

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.