Russell Investments Group Ltd. Has $57.03 Million Stock Position in SBA Communications Corporation $SBAC

Russell Investments Group Ltd. lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 34.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 294,757 shares of the technology company’s stock after selling 157,268 shares during the period. Russell Investments Group Ltd.’s holdings in SBA Communications were worth $57,032,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SBAC. Quent Capital LLC bought a new stake in shares of SBA Communications during the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. SJS Investment Consulting Inc. bought a new position in shares of SBA Communications in the 3rd quarter worth $48,000. Center for Financial Planning Inc. acquired a new stake in SBA Communications in the 3rd quarter valued at $50,000. Finally, Avalon Trust Co acquired a new stake in SBA Communications in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 1.1%

NASDAQ SBAC opened at $193.70 on Wednesday. The firm has a market capitalization of $20.64 billion, a P/E ratio of 20.33, a PEG ratio of 1.96 and a beta of 0.86. The business has a fifty day simple moving average of $191.18 and a 200 day simple moving average of $193.78. SBA Communications Corporation has a 12 month low of $177.49 and a 12 month high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The firm had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. During the same period in the previous year, the firm earned $3.47 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.6%. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio is presently 46.59%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SBAC shares. Barclays decreased their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Royal Bank Of Canada raised their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Sanford C. Bernstein began coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price for the company. Scotiabank lowered their target price on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.17.

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.