Hahn Capital Management LLC Sells 8,370 Shares of SBA Communications Co. (NASDAQ:SBAC)

Hahn Capital Management LLC lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,337 shares of the technology company's stock after selling 8,370 shares during the period. SBA Communications comprises about 2.4% of Hahn Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. Hahn Capital Management LLC's holdings in SBA Communications were worth $5,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Nordea Investment Management AB grew its holdings in SBA Communications by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company's stock worth $68,854,000 after acquiring an additional 16,244 shares during the last quarter. Natixis Advisors L.P. grew its holdings in SBA Communications by 18.8% in the 3rd quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company's stock worth $7,348,000 after acquiring an additional 5,814 shares during the last quarter. Aurora Investment Counsel grew its holdings in SBA Communications by 8.3% in the 3rd quarter. Aurora Investment Counsel now owns 6,248 shares of the technology company's stock worth $1,251,000 after acquiring an additional 480 shares during the last quarter. Aviva PLC grew its holdings in SBA Communications by 40.5% in the 3rd quarter. Aviva PLC now owns 95,680 shares of the technology company's stock worth $19,152,000 after acquiring an additional 27,599 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in SBA Communications in the 3rd quarter worth $2,601,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 0.5 %

SBA Communications stock traded down $0.97 during trading hours on Tuesday, hitting $212.95. The stock had a trading volume of 922,952 shares, compared to its average volume of 1,023,907. The stock has a market capitalization of $23.02 billion, a P/E ratio of 46.19, a price-to-earnings-growth ratio of 1.33 and a beta of 0.56. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $267.42. The stock's 50-day moving average price is $216.43 and its 200-day moving average price is $222.48.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $675.00 million during the quarter, compared to analysts' expectations of $682.11 million. During the same period last year, the firm posted $3.11 earnings per share. The firm's quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts expect that SBA Communications Co. will post 12.59 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.84%. SBA Communications's payout ratio is currently 85.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SBAC shares. BMO Capital Markets dropped their target price on shares of SBA Communications from $285.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, February 27th. KeyCorp raised their target price on shares of SBA Communications from $251.00 to $276.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 6th. Bank of America raised shares of SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 target price for the company in a research report on Thursday, March 7th. Finally, Barclays dropped their target price on shares of SBA Communications from $265.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, March 5th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, SBA Communications has a consensus rating of "Buy" and an average target price of $268.38.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

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.

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