Motley Fool Asset Management LLC Sells 1,174 Shares of SBA Communications Corporation $SBAC

Motley Fool Asset Management LLC reduced its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 2.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,845 shares of the technology company’s stock after selling 1,174 shares during the period. SBA Communications comprises 0.6% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Motley Fool Asset Management LLC’s holdings in SBA Communications were worth $13,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC grew its position in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares during the period. Stone House Investment Management LLC bought a new position in shares of SBA Communications during the 1st quarter valued at approximately $33,000. Allworth Financial LP grew its position in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares during the period. Geneos Wealth Management Inc. grew its position in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of SBA Communications during the 1st quarter valued at approximately $47,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $197.30 on Tuesday. The firm has a fifty day moving average price of $199.14 and a two-hundred day moving average price of $219.02. SBA Communications Corporation has a one year low of $185.45 and a one year high of $245.17. The company has a market cap of $21.19 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 2.09 and a beta of 0.82.

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

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is presently 56.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBAC. KeyCorp reduced their target price on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Wells Fargo & Company cut their price objective on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Citigroup cut their price objective on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Morgan Stanley cut their price objective on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Finally, JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.40.

SBA Communications 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.