Reaves W H & Co. Inc. Sells 25,465 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Reaves W H & Co. Inc. has decreased its stake in SBA Communications Corporation by 5.9%, selling 25,465 shares and retaining 407,152 shares in total, representing 2.3% of its portfolio.
• Several analysts have issued varying ratings and price targets for SBA Communications, with a consensus rating of "Moderate Buy" and an average target price of $257.19.
• SBA Communications recently declared a $1.11 quarterly dividend, resulting in an annualized dividend yield of 1.9%, with a payout ratio of 60.91%.

Reaves W H & Co. Inc. lowered its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 407,152 shares of the technology company's stock after selling 25,465 shares during the period. SBA Communications accounts for 2.3% of Reaves W H & Co. Inc.'s holdings, making the stock its 17th biggest position. Reaves W H & Co. Inc. owned about 0.38% of SBA Communications worth $89,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Assets Investment Management LLC acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $4,702,000. Avalon Trust Co acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $65,000. J. Safra Sarasin Holding AG increased its holdings in shares of SBA Communications by 7.9% during the 1st quarter. J. Safra Sarasin Holding AG now owns 3,266 shares of the technology company's stock worth $719,000 after acquiring an additional 239 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of SBA Communications by 11.0% during the 1st quarter. Banco Santander S.A. now owns 1,432 shares of the technology company's stock worth $315,000 after acquiring an additional 142 shares during the last quarter. Finally, Baker Avenue Asset Management LP acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $251,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of SBAC stock traded down $2.29 on Friday, hitting $220.85. 569,133 shares of the company's stock were exchanged, compared to its average volume of 829,142. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The stock has a market cap of $23.73 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.05 and a beta of 0.77. The company has a 50 day moving average of $230.50 and a 200 day moving average of $223.30.

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

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend 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 Analyst Weigh In

A number of research analysts recently weighed in on the company. Scotiabank assumed coverage on SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price on the stock. Wells Fargo & Company increased their price objective on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday. Bank of America assumed coverage on shares of SBA Communications in a research report on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. Finally, Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.