Motley Fool Asset Management LLC Trims Stock Holdings in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Motley Fool Asset Management LLC reduced its stake in SBA Communications Corporation by 3.2%, holding 59,019 shares valued at approximately $12.99 million, making it the firm’s 29th largest position.
• Several institutional investors have increased or newly purchased shares in SBA Communications during the first quarter, leading to hedge funds and institutional investors owning about 97.35% of the company’s stock.
• SBA Communications announced a quarterly dividend of $1.11 per share, with a dividend yield of 2.0% and a payout ratio of 56.42%, set to be paid on September 18th.

Motley Fool Asset Management LLC cut its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,019 shares of the technology company's stock after selling 1,945 shares during the period. SBA Communications comprises about 0.7% of Motley Fool Asset Management LLC's portfolio, making the stock its 29th biggest position. Motley Fool Asset Management LLC owned about 0.05% of SBA Communications worth $12,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in SBA Communications during the first quarter worth about $28,000. Allworth Financial LP increased its stake in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after purchasing an additional 62 shares during the period. NBC Securities Inc. increased its stake in 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 during the period. Zions Bancorporation National Association UT purchased a new stake in SBA Communications during the first quarter worth about $47,000. Finally, Wayfinding Financial LLC purchased a new stake in SBA Communications during the first quarter worth about $51,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SBAC shares. Scotiabank started coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price target on the stock. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley upped 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 note on Tuesday, July 22nd. Barclays upped their target price on shares of SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Citigroup restated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $258.25.

SBA Communications Stock Down 1.0%

Shares of SBAC opened at $220.85 on Monday. The stock has a 50 day moving average price of $230.50 and a 200 day moving average price of $223.65. 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 2.03 and a beta of 0.77. SBA Communications Corporation has a 52-week low of $192.55 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. The firm had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.29 earnings per share. On average, equities analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

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.

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