Frank Rimerman Advisors LLC Has $478,000 Position in SBA Communications Corporation $SBAC

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

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Teachers Retirement System of The State of Kentucky raised its holdings in SBA Communications by 3.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,271 shares of the technology company’s stock valued at $1,820,000 after buying an additional 260 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in SBA Communications during the 1st quarter worth approximately $1,475,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position 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 valued at $12,273,000 after acquiring an additional 2,979 shares during the period. KLP Kapitalforvaltning AS increased its position in SBA Communications by 10.0% in the 1st 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 stake in shares of SBA Communications by 85.4% during the first 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 during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

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

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

SBA Communications Announces Dividend

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

Analyst Upgrades and Downgrades

SBAC has been the topic of several analyst reports. TD Cowen reduced their price objective on shares of SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Citigroup cut their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. BMO Capital Markets reduced their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Williams Trading set a $237.00 price target on SBA Communications in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group cut their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $238.06.

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.