Hazelview Securities Inc. Sells 13,100 Shares of SBA Communications Co. (NASDAQ:SBAC)

Hazelview Securities Inc. reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,660 shares of the technology company’s stock after selling 13,100 shares during the period. SBA Communications accounts for approximately 1.9% of Hazelview Securities Inc.’s investment portfolio, making the stock its 21st biggest position. 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 made changes to their positions in SBAC. Gateway Investment Advisers LLC increased its position in SBA Communications by 67.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,223 shares of the technology company’s stock valued at $915,000 after buying an additional 1,706 shares in the last quarter. True North Advisors LLC boosted its stake in shares of SBA Communications by 6.6% in the 1st quarter. True North Advisors LLC now owns 1,022 shares of the technology company’s stock worth $221,000 after buying an additional 63 shares during the last quarter. Washington Capital Management Inc. raised its holdings in shares of SBA Communications by 12.0% in the 1st quarter. Washington Capital Management Inc. now owns 3,455 shares of the technology company’s stock worth $749,000 after purchasing an additional 370 shares during the period. Ballentine Partners LLC raised its holdings in SBA Communications by 2.7% during the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after acquiring an additional 55 shares during the period. Finally, MJP Associates Inc. ADV increased its holdings in shares of SBA Communications by 272.5% in the first quarter. MJP Associates Inc. ADV now owns 4,250 shares of the technology company’s stock worth $921,000 after purchasing an additional 3,109 shares during the period. 97.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SBAC shares. Barclays decreased their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets cut their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Royal Bank of Canada cut their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. KeyCorp cut their target price on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company cut their target price on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Eleven 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, SBA Communications currently has a consensus rating of “Buy” and an average target price of $252.17.

SBA Communications Stock Up 0.0 %

Shares of SBA Communications stock traded up $0.07 during trading on Wednesday, reaching $192.74. 303,749 shares of the stock were exchanged, compared to its average volume of 949,720. The stock’s fifty day moving average is $194.96 and its 200 day moving average is $214.65. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

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

SBA Communications Dividend Announcement

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

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.