SBA Communications Corporation $SBAC Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its position in SBA Communications Corporation (NASDAQ:SBAC) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,528 shares of the technology company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in SBA Communications were worth $1,298,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. NorthCrest Asset Manangement LLC increased its holdings in shares of SBA Communications by 3.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after acquiring an additional 44 shares during the period. Janney Montgomery Scott LLC increased its stake in SBA Communications by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock valued at $1,440,000 after buying an additional 46 shares during the period. Advisors Asset Management Inc. increased its stake in SBA Communications by 5.6% during the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after buying an additional 47 shares during the period. Farther Finance Advisors LLC increased its stake in SBA Communications by 20.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after buying an additional 50 shares during the period. Finally, Oakworth Capital Inc. increased its stake in SBA Communications by 25.8% during the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company’s stock valued at $64,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SBAC shares. UBS Group lowered their target price 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. Scotiabank started coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price on the stock. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a “market outperform” rating in a research note on Tuesday, August 5th. Barclays lowered their target price on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Finally, Wells Fargo & Company lowered their target price on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.40.

SBA Communications Price Performance

Shares of SBAC opened at $196.10 on Friday. The firm’s 50 day moving average is $199.92 and its 200-day moving average is $219.07. The stock has a market capitalization of $21.06 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.08 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 announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

SBA Communications Company 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.