Motley Fool Wealth Management LLC Cuts Position in SBA Communications Corporation $SBAC

Motley Fool Wealth Management LLC decreased its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 9.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 40,304 shares of the technology company’s stock after selling 4,228 shares during the period. Motley Fool Wealth Management LLC’s holdings in SBA Communications were worth $9,465,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SBAC. CVA Family Office LLC raised its holdings in SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares during the period. Stone House Investment Management LLC purchased a new position in SBA Communications in the first quarter valued at approximately $33,000. Allworth Financial LP raised its holdings in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares during the period. Geneos Wealth Management Inc. raised its holdings in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in SBA Communications in the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $197.30 on Tuesday. The company has a market cap of $21.19 billion, a PE ratio of 25.07, a P/E/G ratio of 2.09 and a beta of 0.82. The company 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 12 month low of $185.45 and a 12 month high of $245.17.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications’s payout ratio is currently 56.42%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank assumed coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Morgan Stanley dropped their price objective on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 16th. Finally, UBS Group dropped their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Two equities research 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 company. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target 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.