Squarepoint Ops LLC Cuts Stake in SBA Communications Corporation $SBAC

Squarepoint Ops LLC cut its position in SBA Communications Corporation (NASDAQ:SBAC) by 87.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,905 shares of the technology company’s stock after selling 20,447 shares during the quarter. Squarepoint Ops LLC’s holdings in SBA Communications were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC raised its holdings in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of SBA Communications by 75.9% in the 2nd quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after purchasing an additional 101 shares in the last quarter. Allworth Financial LP raised its stake in shares of SBA Communications by 67.9% in the second quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock worth $64,000 after purchasing an additional 110 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in shares of SBA Communications during the second quarter valued at $65,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.7%

SBAC opened at $191.91 on Wednesday. The company’s 50 day moving average is $193.92 and its 200 day moving average is $208.22. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 1.65 and a beta of 0.87. SBA Communications Corporation has a 12-month low of $185.13 and a 12-month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.09. The business had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $3.32 earnings per share. As a group, analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is currently 57.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SBAC shares. Barclays reduced their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. Royal Bank Of Canada decreased their price objective on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, November 10th. BMO Capital Markets lowered their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Morgan Stanley cut their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, October 16th. Finally, Cowen reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

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.