SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 70.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,352 shares of the technology company’s stock after selling 52,801 shares during the quarter. Quadrature Capital Ltd’s holdings in SBA Communications were worth $5,672,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its stake in SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock worth $429,140,000 after buying an additional 1,252,764 shares during the last quarter. Brown Advisory Inc. boosted its stake in SBA Communications by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock worth $530,492,000 after buying an additional 153,299 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in SBA Communications by 9.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after buying an additional 166,554 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in SBA Communications by 115.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after buying an additional 727,163 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in SBA Communications by 1.0% in the 3rd quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock worth $242,124,000 after buying an additional 12,450 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $191.19 on Wednesday. The company has a market cap of $20.54 billion, a P/E ratio of 37.49, a PEG ratio of 0.61 and a beta of 0.65. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The business’s 50-day simple moving average is $195.75 and its 200 day simple moving average is $216.62.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.21 by $0.21. The business had revenue of $657.86 million for 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 company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $3.13 EPS. Analysts predict that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a yield of 2.05%. SBA Communications’s dividend payout ratio is presently 76.86%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SBAC shares. KeyCorp decreased their price target on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Barclays reduced their price objective on SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. Royal Bank of Canada reduced their price objective on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Citigroup reduced their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $252.17.

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.