SBA Communications Corporation (NASDAQ:SBAC) Position Reduced by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC reduced its stake in SBA Communications Corporation by 11.7%, holding approximately 170,147 shares valued at $37.43 million after selling 22,630 shares in the first quarter.
• SBA Communications reported earnings per share of $3.17 for the last quarter, exceeding analysts' estimates, with revenue increasing by 5.8% year-over-year to $698.98 million.
• The company declared a quarterly dividend of $1.11 per share, set to be paid on September 18th, reflecting an annualized yield of 2.0% with a payout ratio of 60.91%.

Centersquare Investment Management LLC lowered its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 170,147 shares of the technology company's stock after selling 22,630 shares during the quarter. Centersquare Investment Management LLC owned approximately 0.16% of SBA Communications worth $37,434,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Dodge & Cox lifted its holdings in shares of SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares during the period. BROOKFIELD Corp ON increased its position in SBA Communications by 27,449.9% during the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after purchasing an additional 987,647 shares during the last quarter. Voyager Global Management LP purchased a new position in SBA Communications during the fourth quarter worth approximately $95,786,000. Cohen & Steers Inc. raised its stake in SBA Communications by 29.8% during the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock worth $383,762,000 after purchasing an additional 432,644 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of SBA Communications by 30,393.6% in the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after purchasing an additional 369,282 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Down 1.0%

Shares of NASDAQ SBAC traded down $2.29 during trading on Friday, reaching $220.85. 569,133 shares of the stock were exchanged, compared to its average volume of 829,142. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.05 and a beta of 0.77. The business's 50-day moving average price is $230.70 and its 200 day moving average price is $223.19. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The firm had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.29 EPS. As a group, sell-side analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. SBA Communications's dividend payout ratio is currently 56.42%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. UBS Group upped their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. Morgan Stanley increased their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price target on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $258.25.

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.