Quadrature Capital Ltd Has $1.81 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Quadrature Capital Ltd trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 62.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,374 shares of the technology company’s stock after selling 13,978 shares during the quarter. Quadrature Capital Ltd’s holdings in SBA Communications were worth $1,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of SBA Communications in the fourth quarter worth approximately $37,000. Glassman Wealth Services lifted its position in shares of SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP lifted its position in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. Finally, Quarry LP lifted its position in shares of SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBAC. Barclays reduced their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. TD Cowen cut their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. KeyCorp cut their price objective on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Royal Bank of Canada cut their price objective on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Citigroup cut their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $248.31.

SBA Communications Stock Up 1.7 %

Shares of NASDAQ:SBAC traded up $3.64 during trading on Friday, reaching $214.71. The stock had a trading volume of 911,889 shares, compared to its average volume of 824,789. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 42.10, a P/E/G ratio of 0.67 and a beta of 0.65. The stock has a fifty day simple moving average of $197.54 and a two-hundred day simple moving average of $207.31.

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

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were paid a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.83%. SBA Communications’s payout ratio is 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.