GRS Advisors LLC Sells 143,544 Shares of SBA Communications Corporation $SBAC

GRS Advisors LLC reduced its position in SBA Communications Corporation (NASDAQ:SBAC) by 93.0% in the third quarter, Holdings Channel.com reports. The firm owned 10,835 shares of the technology company’s stock after selling 143,544 shares during the quarter. SBA Communications makes up 0.2% of GRS Advisors LLC’s holdings, making the stock its 29th biggest holding. GRS Advisors LLC’s holdings in SBA Communications were worth $2,095,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quent Capital LLC purchased a new stake in SBA Communications in the third quarter worth approximately $27,000. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares in the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $48,000. Center for Financial Planning Inc. bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $50,000. Finally, Allworth Financial LP boosted its stake in shares of SBA Communications by 67.9% in the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock valued at $64,000 after purchasing an additional 110 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SBAC shares. Sanford C. Bernstein began coverage on shares of SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. UBS Group cut their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Morgan Stanley reduced their price objective on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Finally, Barclays lowered their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $232.17.

SBA Communications Stock Up 1.8%

Shares of NASDAQ SBAC opened at $188.04 on Friday. SBA Communications Corporation has a 52 week low of $177.49 and a 52 week high of $245.16. The firm’s fifty day moving average is $190.82 and its 200 day moving average is $193.45. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.83 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million during the quarter, compared to analysts’ expectations of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.47 EPS. Equities research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $1.25 per share. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 46.59%.

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.