Jefferies Financial Group Inc. Reduces Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Jefferies Financial Group Inc. reduced its stake in SBA Communications Corporation by 47.9% in Q1, leaving them with 1,585 shares valued at approximately $349,000.
• In the most recent earnings report, SBA Communications reported an EPS of $3.17, surpassing estimates, and revenue of $698.98 million, up 5.8% year-over-year.
• The company announced a quarterly dividend of $1.11 per share, yielding 2.0%, with a payout ratio of 56.42%.

Jefferies Financial Group Inc. lowered its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,585 shares of the technology company's stock after selling 1,457 shares during the period. Jefferies Financial Group Inc.'s holdings in SBA Communications were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Independence Bank of Kentucky purchased a new position in SBA Communications during the first quarter worth about $28,000. Allworth Financial LP boosted its position in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after acquiring an additional 62 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after purchasing an additional 189 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of SBA Communications during the first quarter worth about $51,000. Finally, Farther Finance Advisors LLC increased its position in shares of SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 1.0%

Shares of NASDAQ:SBAC traded down $2.29 on Friday, reaching $220.85. 569,133 shares of the company traded hands, compared to its average volume of 829,142. The business's 50-day simple moving average is $230.50 and its 200 day simple moving average is $223.47. SBA Communications Corporation has a 52 week low of $192.55 and a 52 week high of $252.64. The stock has a market capitalization of $23.73 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million during 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%. SBA Communications's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 earnings per share. Sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SBAC shares. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research report on Tuesday, May 20th. Scotiabank began coverage on SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price on the stock. Wells Fargo & Company increased their target price on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, UBS Group increased their target price on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. 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's stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and an average price target of $258.25.

SBA Communications Company 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.