Cbre Investment Management Listed Real Assets LLC Sells 4,934 Shares of SBA Communications Corporation $SBAC

Cbre Investment Management Listed Real Assets LLC trimmed its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 4.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,366 shares of the technology company’s stock after selling 4,934 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned 0.09% of SBA Communications worth $22,302,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in SBA Communications during the 1st quarter worth approximately $28,000. Stone House Investment Management LLC bought a new stake in SBA Communications during the 1st quarter worth approximately $33,000. Allworth Financial LP increased its stake in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after purchasing an additional 62 shares in the last quarter. NBC Securities Inc. increased its stake in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after purchasing an additional 189 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in SBA Communications during the 1st quarter worth approximately $47,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 0.9%

NASDAQ SBAC opened at $222.87 on Friday. The company has a market cap of $23.93 billion, a PE ratio of 28.32, a PEG ratio of 2.03 and a beta of 0.77. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The stock has a 50 day moving average of $228.85 and a 200-day moving average of $224.70.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications’s payout ratio is 56.42%.

Analysts Set New Price Targets

SBAC has been the subject of several research reports. Citigroup reaffirmed an “outperform” rating on shares of SBA Communications in a research note on Tuesday, August 5th. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price target for the company. in a research note on Tuesday, May 20th. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. Finally, Bank of America initiated coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a “buy” rating and a $260.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $258.25.

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.