GSA Capital Partners LLP Trims Stock Position in SBA Communications Co. (NASDAQ:SBAC)

GSA Capital Partners LLP decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,274 shares of the technology company’s stock after selling 451 shares during the quarter. GSA Capital Partners LLP’s holdings in SBA Communications were worth $788,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in SBA Communications in the second quarter worth approximately $134,738,000. Long Pond Capital LP bought a new position in SBA Communications in the 2nd quarter worth $83,687,000. AQR Capital Management LLC lifted its position in SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock valued at $72,375,000 after purchasing an additional 307,530 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after purchasing an additional 233,179 shares during the period. Finally, Janus Henderson Group PLC increased its position in SBA Communications by 1,305.8% in the first quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock worth $48,732,000 after buying an additional 208,981 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SBAC shares. Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Wells Fargo & Company increased their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Up 1.2 %

Shares of SBA Communications stock opened at $221.09 on Friday. The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 0.74 and a beta of 0.68. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The business has a 50-day moving average price of $236.35 and a 200-day moving average price of $216.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 EPS. On average, equities analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Insider Buying and Selling at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 3.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.