Mutual of America Capital Management LLC Decreases Stock Holdings in SBA Communications Corporation $SBAC

Mutual of America Capital Management LLC decreased its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,321 shares of the technology company’s stock after selling 182 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SBA Communications were worth $2,893,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SBAC. GAMMA Investing LLC raised its position in SBA Communications by 38.6% in the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock worth $370,000 after buying an additional 469 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of SBA Communications by 75.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company’s stock valued at $3,215,000 after purchasing an additional 6,272 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of SBA Communications by 11.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after purchasing an additional 608 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of SBA Communications by 27.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,985 shares of the technology company’s stock valued at $437,000 after purchasing an additional 431 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of SBA Communications by 9.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 44,973 shares of the technology company’s stock valued at $9,895,000 after purchasing an additional 3,923 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.3%

SBA Communications stock opened at $198.68 on Friday. The firm has a 50 day moving average of $199.49 and a 200 day moving average of $219.01. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.07 and a beta of 0.82. SBA Communications Corporation has a 12-month low of $185.45 and a 12-month high of $247.04.

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

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications’s dividend payout ratio is presently 56.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SBAC shares. The Goldman Sachs Group reduced their price target on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Bank of America lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $230.00 in a research report on Wednesday, August 27th. Scotiabank started coverage on shares of SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price target for the company. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the company a “strong-buy” rating in a research report on Tuesday, August 5th. Finally, Barclays reduced their target price on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.40.

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.