Landscape Capital Management L.L.C. Reduces Holdings in SBA Communications Co. (NASDAQ:SBAC)

Landscape Capital Management L.L.C. lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 76.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,254 shares of the technology company’s stock after selling 3,996 shares during the period. Landscape Capital Management L.L.C.’s holdings in SBA Communications were worth $302,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in SBA Communications during the third quarter worth about $26,000. Ridgewood Investments LLC bought a new position in SBA Communications in the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new position in SBA Communications in the 3rd quarter valued at approximately $35,000. Family Firm Inc. bought a new stake in SBA Communications during the 2nd quarter valued at $36,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of SBA Communications during the second quarter worth $49,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 0.6 %

Shares of SBAC stock opened at $220.66 on Monday. The business has a 50-day moving average price of $234.22 and a two-hundred day moving average price of $217.46. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market cap of $23.73 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the firm earned $3.34 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SBAC. Royal Bank of Canada lifted their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Raymond James upped their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley raised their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $257.23.

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.