Duff & Phelps Investment Management Co. Sells 1,100 Shares of SBA Communications Corporation $SBAC

Duff & Phelps Investment Management Co. trimmed its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,402 shares of the technology company’s stock after selling 1,100 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in SBA Communications were worth $10,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SBAC. CVA Family Office LLC lifted its holdings in shares of SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. Stone House Investment Management LLC bought a new position in SBA Communications during the 1st quarter valued at approximately $33,000. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% during 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 last quarter. Summit Securities Group LLC bought a new stake in SBA Communications in the first quarter worth $47,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of SBA Communications during the first quarter valued at $47,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $197.21 on Monday. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $245.16. The business’s fifty day moving average price is $195.00 and its 200-day moving average price is $215.94.

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

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, November 13th. SBA Communications’s dividend payout ratio is 57.89%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SBAC shares. Royal Bank Of Canada cut their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. The Goldman Sachs Group cut their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Raymond James Financial set a $265.00 price target on SBA Communications and gave the stock a “strong-buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research report on Tuesday, October 14th. Finally, BMO Capital Markets reduced their price objective on SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.50.

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.