Boothbay Fund Management LLC Sells 2,757 Shares of SBA Communications Corporation $SBAC

Boothbay Fund Management LLC lowered its stake in SBA Communications Corporation (NASDAQ:SBAC) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 105,768 shares of the technology company’s stock after selling 2,757 shares during the period. SBA Communications comprises 0.5% of Boothbay Fund Management LLC’s holdings, making the stock its 11th largest position. Boothbay Fund Management LLC’s holdings in SBA Communications were worth $24,839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of SBA Communications by 0.5% in 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 period. Dodge & Cox grew its holdings in SBA Communications by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock worth $2,021,619,000 after acquiring an additional 123,230 shares during the last quarter. State Street Corp increased its position 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 acquiring an additional 24,793 shares during the period. Invesco Ltd. raised its stake in shares of SBA Communications by 19.8% during the second quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock valued at $369,530,000 after acquiring an additional 259,876 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of SBA Communications by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,507,938 shares of the technology company’s stock worth $331,753,000 after purchasing an additional 14,918 shares during the period. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SBAC shares. Royal Bank Of Canada reduced their price target on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. The Goldman Sachs Group reduced their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Barclays decreased their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. Citigroup cut their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Finally, Morgan Stanley reduced their price objective on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.63.

SBA Communications Stock Down 0.6%

NASDAQ SBAC opened at $191.66 on Friday. The firm has a market capitalization of $20.42 billion, a PE ratio of 24.99, a P/E/G ratio of 1.67 and a beta of 0.87. The stock’s 50 day moving average is $193.60 and its 200 day moving average is $210.40. SBA Communications Corporation has a twelve month low of $185.13 and a twelve month high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. The firm had revenue of $732.33 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $3.32 EPS. On average, research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s payout ratio is presently 57.89%.

SBA Communications Company 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.