WINTON GROUP Ltd Makes New Investment in SBA Communications Corporation $SBAC

WINTON GROUP Ltd acquired a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, HoldingsChannel.com reports. The firm acquired 26,179 shares of the technology company’s stock, valued at approximately $6,148,000.

Several other institutional investors have also modified their holdings of SBAC. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares during the period. Norges Bank bought a new stake in SBA Communications in the second quarter worth $351,084,000. Dodge & Cox boosted its stake in SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock worth $1,866,843,000 after buying an additional 1,139,009 shares during the period. Nuveen LLC bought a new position in SBA Communications during the first quarter valued at $152,973,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of SBA Communications by 799.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,308 shares of the technology company’s stock valued at $134,166,000 after acquiring an additional 507,815 shares during the period. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $189.58 on Monday. SBA Communications Corporation has a 52-week low of $185.13 and a 52-week high of $245.16. The firm has a market capitalization of $20.20 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 1.64 and a beta of 0.87. The stock has a 50 day moving average price of $193.82 and a 200 day moving average price of $211.49.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $732.33 million during the quarter, compared to analyst estimates of $715.65 million. During the same period in the previous year, the company posted $3.32 EPS. SBA Communications’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

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

Analyst Ratings Changes

SBAC has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. KeyCorp dropped their target price on SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. UBS Group cut their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. TD Cowen decreased their price target on SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company dropped their price objective on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Two investment 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 stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $237.63.

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.