Quadrature Capital Ltd Sells 52,801 Shares of SBA Communications Co. (NASDAQ:SBAC)

Quadrature Capital Ltd lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 70.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,352 shares of the technology company’s stock after selling 52,801 shares during the period. Quadrature Capital Ltd’s holdings in SBA Communications were worth $5,672,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SBAC. CVA Family Office LLC bought a new stake in shares of SBA Communications during the 4th quarter worth about $37,000. Glassman Wealth Services boosted its stake in SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. boosted its stake in SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP boosted its stake in SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the period. Finally, Quarry LP boosted its stake in SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $191.19 on Wednesday. The business has a 50 day moving average price of $195.75 and a two-hundred day moving average price of $216.62. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the prior year, the firm posted $3.13 EPS. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on SBAC shares. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, March 7th. Citigroup decreased their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. TD Cowen decreased their target price 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. Wells Fargo & Company decreased their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Finally, KeyCorp decreased their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Buy” and an average price target of $252.17.

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.