GRS Advisors LLC Sells 143,544 Shares of SBA Communications Corporation $SBAC

GRS Advisors LLC cut its stake in SBA Communications Corporation (NASDAQ:SBAC) by 93.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,835 shares of the technology company’s stock after selling 143,544 shares during the quarter. SBA Communications comprises about 0.2% of GRS Advisors LLC’s holdings, making the stock its 29th largest position. GRS Advisors LLC’s holdings in SBA Communications were worth $2,095,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in SBA Communications in the 2nd quarter worth about $351,084,000. Dodge & Cox increased its position in shares of SBA Communications by 12.3% during the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock valued at $1,869,172,000 after buying an additional 1,058,803 shares during the period. Daiwa Securities Group Inc. increased its position in shares of SBA Communications by 1,328.4% during the second quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock valued at $122,637,000 after buying an additional 485,656 shares during the period. Nordea Investment Management AB lifted its holdings in shares of SBA Communications by 65.0% in the third quarter. Nordea Investment Management AB now owns 1,182,076 shares of the technology company’s stock worth $229,145,000 after buying an additional 465,558 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after buying an additional 403,285 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SBAC. UBS Group reduced their price objective on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Morgan Stanley cut their price target on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. JPMorgan Chase & Co. reduced their price target on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, Royal Bank Of Canada upped their price target on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Trading Up 1.8%

SBAC stock opened at $188.04 on Friday. The company’s 50 day moving average is $190.82 and its 200 day moving average is $193.45. The stock has a market cap of $20.04 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. SBA Communications Corporation has a 1-year low of $177.49 and a 1-year high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The business had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. During the same period last year, the firm posted $3.47 earnings per share. SBA Communications’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $1.25 per share. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio is 46.59%.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.