Cwm LLC Decreases Stock Holdings in SBA Communications Corporation $SBAC

Cwm LLC cut its stake in SBA Communications Corporation (NASDAQ:SBAC) by 72.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,084 shares of the technology company’s stock after selling 10,898 shares during the period. Cwm LLC’s holdings in SBA Communications were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. Vanguard Group Inc. boosted its stake in SBA Communications by 0.5% during the second quarter. Vanguard Group Inc. now owns 17,760,251 shares of the technology company’s stock worth $4,170,817,000 after buying an additional 93,582 shares during the last quarter. Dodge & Cox boosted its position in shares of SBA Communications by 1.5% during the 2nd quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock valued at $2,021,619,000 after acquiring an additional 123,230 shares during the last quarter. State Street Corp grew its holdings in shares of SBA Communications by 0.5% in the second quarter. State Street Corp now owns 4,613,181 shares of the technology company’s stock valued at $1,083,359,000 after purchasing an additional 24,793 shares during the period. Invesco Ltd. increased its position in SBA Communications by 19.8% during the second quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after purchasing an additional 259,876 shares during the last quarter. Finally, Norges Bank purchased a new position in SBA Communications during the second quarter worth about $351,084,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 3.6%

NASDAQ:SBAC opened at $181.42 on Thursday. SBA Communications Corporation has a 52 week low of $181.38 and a 52 week high of $245.16. The stock’s fifty day moving average is $192.89 and its two-hundred day moving average is $205.56. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.64 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The firm had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. During the same quarter in the previous year, the business earned $3.32 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBAC. Barclays dropped their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Citigroup lowered their price objective on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. UBS Group reduced their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Morgan Stanley decreased their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 16th. Finally, TD Cowen reduced their price objective on shares of SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.00.

SBA Communications Company 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.