Bristol John W & Co. Inc. NY Sells 7,266 Shares of SBA Communications Corporation $SBAC

Bristol John W & Co. Inc. NY cut its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 400,741 shares of the technology company’s stock after selling 7,266 shares during the period. Bristol John W & Co. Inc. NY’s holdings in SBA Communications were worth $77,483,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

SBAC has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. Wells Fargo & Company reduced their target price on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price target for the company. Finally, Royal Bank Of Canada boosted their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

SBA Communications Stock Down 2.0%

SBAC stock opened at $184.73 on Friday. SBA Communications Corporation has a twelve month low of $177.49 and a twelve month high of $245.16. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. The firm’s fifty day simple moving average is $190.91 and its two-hundred day simple moving average is $193.68.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $725.80 million. During the same quarter last year, the business earned $3.47 EPS. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a yield of 2.7%. SBA Communications’s payout ratio is 46.59%.

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.