Frank Rimerman Advisors LLC Sells 269 Shares of SBA Communications Corporation $SBAC

Frank Rimerman Advisors LLC reduced its position in SBA Communications Corporation (NASDAQ:SBAC) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,037 shares of the technology company’s stock after selling 269 shares during the period. Frank Rimerman Advisors LLC’s holdings in SBA Communications were worth $478,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its stake in shares of SBA Communications by 3.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 8,271 shares of the technology company’s stock worth $1,820,000 after purchasing an additional 260 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of SBA Communications during the 1st quarter valued at $1,475,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in SBA Communications by 5.6% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 55,784 shares of the technology company’s stock worth $12,273,000 after buying an additional 2,979 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of SBA Communications by 10.0% in the first quarter. KLP Kapitalforvaltning AS now owns 38,396 shares of the technology company’s stock valued at $8,448,000 after acquiring an additional 3,500 shares during the period. Finally, Oak Thistle LLC raised its holdings in shares of SBA Communications by 85.4% in the 1st quarter. Oak Thistle LLC now owns 12,282 shares of the technology company’s stock valued at $2,702,000 after acquiring an additional 5,659 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SBAC. BMO Capital Markets cut their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. UBS Group lowered their price target on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a “strong-buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Finally, Barclays decreased their price objective on shares of SBA Communications from $226.00 to $219.00 and set an “overweight” rating for the company in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.06.

SBA Communications Stock Down 0.8%

Shares of SBA Communications stock opened at $196.09 on Thursday. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. The company’s 50 day moving average is $195.26 and its 200 day moving average is $215.18. SBA Communications Corporation has a twelve month low of $185.45 and a twelve month high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The business had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

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.