Hsbc Holdings PLC Lowers Stock Position in SBA Communications Corporation $SBAC

Hsbc Holdings PLC lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,514 shares of the technology company’s stock after selling 13,359 shares during the period. Hsbc Holdings PLC owned about 0.18% of SBA Communications worth $42,485,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in SBA Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock worth $3,886,844,000 after buying an additional 268,018 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock worth $1,314,265,000 after buying an additional 1,715,541 shares during the last quarter. Deutsche Bank AG increased its holdings in SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock worth $491,549,000 after buying an additional 134,624 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in SBA Communications by 7.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock worth $439,310,000 after buying an additional 135,682 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in SBA Communications by 11.5% during the first quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock worth $436,969,000 after buying an additional 204,902 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 0.9%

Shares of NASDAQ:SBAC opened at $222.87 on Friday. The company has a 50-day moving average price of $228.85 and a two-hundred day moving average price of $224.70. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64. The firm has a market capitalization of $23.93 billion, a PE ratio of 28.32, a P/E/G ratio of 2.03 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same period last year, the business earned $3.29 earnings per share. SBA Communications’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is 56.42%.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price objective for the company. in a report on Tuesday, May 20th. Morgan Stanley raised their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Citigroup restated an “outperform” rating on shares of SBA Communications in a report on Tuesday, August 5th. Scotiabank initiated coverage on shares of SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price for the company. Finally, JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a “market outperform” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $258.25.

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.