Trillium Asset Management LLC Sells 50,155 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Trillium Asset Management LLC significantly reduced its stake in SBA Communications Corporation by 90.4%, holding only 5,300 shares after selling 50,155 shares in the 1st quarter, with a total value of approximately $1.17 million.
• Several analysts have recently issued conflicting ratings on SBA Communications, with Wells Fargo raising the price target to $235 and a consensus rating of "Moderate Buy" from analysts.
• SBA Communications announced a quarterly dividend of $1.11, resulting in an annualized dividend yield of 2.0%, with a payout ratio of 56.42%.

Trillium Asset Management LLC decreased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 90.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,300 shares of the technology company's stock after selling 50,155 shares during the quarter. Trillium Asset Management LLC's holdings in SBA Communications were worth $1,166,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in SBA Communications by 1.5% in the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock worth $3,886,844,000 after acquiring an additional 268,018 shares in the last quarter. Dodge & Cox increased its stake in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares in the last quarter. JPMorgan Chase & Co. increased its stake in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares in the last quarter. Deutsche Bank AG increased its stake in SBA Communications by 5.9% in the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock worth $491,549,000 after purchasing an additional 134,624 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in SBA Communications by 7.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock worth $439,310,000 after purchasing an additional 135,682 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Scotiabank assumed coverage on SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. BMO Capital Markets lifted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Morgan Stanley lifted their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Raymond James Financial set a $265.00 price target on SBA Communications and gave the stock a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $258.25.

SBA Communications Price Performance

SBAC traded up $3.03 on Friday, hitting $219.94. The company had a trading volume of 791,328 shares, compared to its average volume of 848,663. The company's fifty day moving average price is $229.43 and its 200 day moving average price is $224.10. SBA Communications Corporation has a 1-year low of $192.55 and a 1-year high of $252.64. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%. SBA Communications's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.29 earnings per share. On average, sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

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

SBA Communications 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.