Victory Capital Management Inc. Lowers Position in SBA Communications Co. (NASDAQ:SBAC)

Victory Capital Management Inc. trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,680 shares of the technology company’s stock after selling 5,327 shares during the period. Victory Capital Management Inc. owned 0.09% of SBA Communications worth $25,034,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in SBA Communications by 140.6% during the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after buying an additional 1,252,764 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of SBA Communications by 115.3% during the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after acquiring an additional 727,163 shares in the last quarter. Bristol John W & Co. Inc. NY purchased a new position in shares of SBA Communications in the 3rd quarter worth about $92,725,000. Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 29.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after purchasing an additional 226,113 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in SBA Communications by 75.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 358,026 shares of the technology company’s stock worth $71,666,000 after purchasing an additional 153,476 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.6 %

Shares of NASDAQ SBAC opened at $197.22 on Thursday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 0.57 and a beta of 0.59. The firm has a 50 day moving average of $208.00 and a 200 day moving average of $222.65.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. SBA Communications’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.13 EPS. Sell-side analysts predict that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBAC shares. Citigroup reduced their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. TD Cowen decreased their price target 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. 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 report on Thursday, March 7th. Finally, Barclays decreased their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $254.75.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

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.