Blair William & Co. IL Trims Holdings in SBA Communications Corporation $SBAC

Blair William & Co. IL lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,147 shares of the technology company’s stock after selling 2,805 shares during the period. Blair William & Co. IL owned 0.07% of SBA Communications worth $16,943,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in shares of SBA Communications during the first quarter worth about $33,000. Allworth Financial LP grew its stake in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after purchasing an additional 62 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after purchasing an additional 189 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of SBA Communications during the first quarter worth approximately $47,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on SBAC. Barclays lowered their price objective on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Morgan Stanley boosted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Royal Bank Of Canada lowered their price objective on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Finally, Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.07.

SBA Communications Trading Up 0.9%

Shares of SBAC opened at $189.10 on Friday. SBA Communications Corporation has a twelve month low of $185.70 and a twelve month high of $252.64. The firm has a market capitalization of $20.31 billion, a P/E ratio of 24.03, a PEG ratio of 1.97 and a beta of 0.82. The firm’s 50-day moving average is $204.53 and its two-hundred day moving average is $220.57.

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

SBA Communications Dividend Announcement

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

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.