Hazelview Securities Inc. Lowers Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Hazelview Securities Inc. decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,660 shares of the technology company’s stock after selling 13,100 shares during the quarter. SBA Communications accounts for about 1.9% of Hazelview Securities Inc.’s holdings, making the stock its 21st biggest holding. Hazelview Securities Inc.’s holdings in SBA Communications were worth $10,195,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SBAC. Gateway Investment Advisers LLC lifted its holdings in shares of SBA Communications by 67.8% during the first quarter. Gateway Investment Advisers LLC now owns 4,223 shares of the technology company’s stock worth $915,000 after purchasing an additional 1,706 shares during the period. True North Advisors LLC lifted its holdings in SBA Communications by 6.6% in the first quarter. True North Advisors LLC now owns 1,022 shares of the technology company’s stock valued at $221,000 after acquiring an additional 63 shares during the period. Washington Capital Management Inc. lifted its holdings in SBA Communications by 12.0% in the first quarter. Washington Capital Management Inc. now owns 3,455 shares of the technology company’s stock valued at $749,000 after acquiring an additional 370 shares during the period. Ballentine Partners LLC raised its stake in shares of SBA Communications by 2.7% during the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after buying an additional 55 shares during the last quarter. Finally, MJP Associates Inc. ADV raised its stake in shares of SBA Communications by 272.5% during the 1st quarter. MJP Associates Inc. ADV now owns 4,250 shares of the technology company’s stock worth $921,000 after buying an additional 3,109 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC traded up $0.07 during trading on Wednesday, hitting $192.74. The company’s stock had a trading volume of 303,749 shares, compared to its average volume of 949,720. The firm’s 50 day moving average price is $194.96 and its 200-day moving average price is $214.65. The stock has a market cap of $20.71 billion, a PE ratio of 37.63, a PEG ratio of 0.61 and a beta of 0.65. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.13 EPS. Equities analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Wednesday, May 22nd. SBA Communications’s payout ratio is currently 76.86%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen cut their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Citigroup dropped their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. KeyCorp reduced their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. BMO Capital Markets dropped their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Thursday, March 7th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $252.17.

SBA Communications Company 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.