SBA Communications Corporation $SBAC Shares Sold by Vinva Investment Management Ltd

Key Points

• Vinva Investment Management Ltd trimmed its stake in SBA Communications (NASDAQ: SBAC) by 43.6% in Q3, selling 30,226 shares and leaving 39,068 shares valued at about $7.66 million.
• Wall Street analysts have trimmed price targets recently but maintain a consensus rating of "Moderate Buy" with an average target of $232.17.
• SBA Communications raised its quarterly dividend to $1.25 (annualized $5.00), implying a 2.5% yield, with an ex-dividend date of March 13 and payment on March 27.

Vinva Investment Management Ltd trimmed its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 43.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,068 shares of the technology company's stock after selling 30,226 shares during the period. Vinva Investment Management Ltd's holdings in SBA Communications were worth $7,661,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in SBA Communications by 3.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company's stock worth $42,202,000 after purchasing an additional 5,246 shares in the last quarter. Impax Asset Management Group plc lifted its position in SBA Communications by 58.2% in the second quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company's stock valued at $1,292,000 after purchasing an additional 2,023 shares during the period. Donoghue Forlines LLC purchased a new stake in SBA Communications in the 2nd quarter valued at approximately $2,824,000. ProShare Advisors LLC increased its position in SBA Communications by 27.5% during the 3rd quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company's stock worth $7,538,000 after purchasing an additional 8,404 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in SBA Communications by 24.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company's stock worth $358,728,000 after purchasing an additional 366,491 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBAC. UBS Group reduced their price target on SBA Communications from $275.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, January 20th. Morgan Stanley dropped their price objective on SBA Communications from $225.00 to $215.00 and set an "equal weight" rating on the stock in a report on Monday, March 2nd. Barclays reduced their target price on SBA Communications from $219.00 to $212.00 and set an "overweight" rating for the company in a report on Monday, December 1st. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a research report on Thursday. They set a "market perform" rating and a $218.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of SBA Communications from $245.00 to $240.00 and set a "neutral" rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and an average target price of $232.17.

SBA Communications Stock Performance

SBAC opened at $196.58 on Monday. The business's fifty day moving average is $191.15 and its two-hundred day moving average is $194.16. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.96 and a beta of 0.86. SBA Communications Corporation has a one year low of $177.49 and a one year high of $245.16.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.25 by $0.22. The business had revenue of $719.58 million during the quarter, compared to analysts' expectations of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $3.47 earnings per share. On average, analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $1.11. SBA Communications's dividend payout ratio is currently 46.59%.

SBA Communications Profile

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.