Blair William & Co. IL Sells 2,529 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Blair William & Co. IL sold 2,529 shares of SBA Communications, reducing its stake by 3.3% during the first quarter, leaving them with approximately 74,952 shares valued at $16.49 million.
• Recent research reports indicate a positive outlook for SBA Communications, with target price increases from firms like UBS and Wells Fargo, suggesting a consensus rating of "Moderate Buy."
• SBA Communications announced a quarterly dividend of $1.11 per share, which has a yield of 2.0%, and is set to be paid on September 18th to investors of record.

Blair William & Co. IL lowered its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,952 shares of the technology company's stock after selling 2,529 shares during the quarter. Blair William & Co. IL owned approximately 0.07% of SBA Communications worth $16,490,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SBAC. Dodge & Cox grew its stake in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares during the period. BROOKFIELD Corp ON lifted its holdings in shares of SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock valued at $202,016,000 after purchasing an additional 987,647 shares in the last quarter. Voyager Global Management LP acquired a new position in shares of SBA Communications in the 4th quarter valued at approximately $95,786,000. Cohen & Steers Inc. increased its stake in SBA Communications by 29.8% during the 4th 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in SBA Communications by 30,393.6% during the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after buying an additional 369,282 shares during the period. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Performance

SBAC traded down $1.96 on Friday, reaching $221.18. The company had a trading volume of 228,582 shares, compared to its average volume of 863,100. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64. The company's fifty day moving average is $230.70 and its 200 day moving average is $223.19. The stock has a market cap of $23.77 billion, a P/E ratio of 28.11, a P/E/G ratio of 2.02 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $670.73 million. During the same period last year, the firm posted $3.29 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given 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 presently 56.42%.

Analyst Ratings Changes

Several equities research analysts recently commented on SBAC shares. Wall Street Zen cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. JMP Securities set a $280.00 price target on SBA Communications and gave the company a "market outperform" rating in a report on Tuesday. 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 report on Tuesday. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research note on Tuesday, May 20th. Finally, Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research note on Tuesday. Eight 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. According to MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and an average target price of $258.25.

About SBA Communications

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.