SBA Communications Corporation $SBAC Stock Position Cut by Skylands Capital LLC

Skylands Capital LLC reduced its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,580 shares of the technology company’s stock after selling 6,300 shares during the period. SBA Communications accounts for about 2.1% of Skylands Capital LLC’s portfolio, making the stock its 10th largest holding. Skylands Capital LLC’s holdings in SBA Communications were worth $16,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SBAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of SBA Communications by 5.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company’s stock worth $46,067,000 after buying an additional 14,317 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of SBA Communications in the second quarter valued at about $1,011,000. Nykredit A S purchased a new position in shares of SBA Communications in the second quarter worth about $7,298,000. Headlands Technologies LLC lifted its stake in shares of SBA Communications by 303.5% in the second quarter. Headlands Technologies LLC now owns 8,728 shares of the technology company’s stock worth $1,540,000 after buying an additional 6,565 shares in the last quarter. Finally, Delta Global Management LP purchased a new position in shares of SBA Communications in the first quarter worth about $2,162,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 4.2%

Shares of NASDAQ:SBAC opened at $173.41 on Thursday. The business has a fifty day moving average of $179.36 and a two-hundred day moving average of $191.39. The stock has a market cap of $18.40 billion, a P/E ratio of 18.69, a PEG ratio of 1.81 and a beta of 1.00. SBA Communications Corporation has a 52-week low of $156.60 and a 52-week high of $224.46.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%. The business had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. During the same period last year, the company earned $3.17 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that SBA Communications Corporation will post 11.40 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, August 20th were issued a $1.25 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.9%. SBA Communications’s dividend payout ratio is currently 53.88%.

Insider Activity

In related news, Director George R. Krouse, Jr. sold 300 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the sale, the director owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBAC. UBS Group lowered shares of SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th. Citigroup reiterated a “market perform” rating on shares of SBA Communications in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Barclays decreased their target price on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Finally, TD Cowen restated a “buy” rating on shares of SBA Communications in a report on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $226.53.

SBA Communications Company Profile

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.