US Bancorp DE Reduces Position in SBA Communications Corporation $SBAC

US Bancorp DE lessened its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,228 shares of the technology company’s stock after selling 354 shares during the period. US Bancorp DE’s holdings in SBA Communications were worth $4,281,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. CWA Asset Management Group LLC purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $302,000. GAMMA Investing LLC boosted its holdings in shares of SBA Communications by 38.6% in the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after purchasing an additional 469 shares during the period. Praxis Investment Management Inc. purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $290,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock valued at $3,146,000 after purchasing an additional 1,769 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of SBA Communications by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of SBA Communications in a report on Saturday, September 27th. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. JMP Securities set a $280.00 price target on SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Wells Fargo & Company boosted their price target on SBA Communications from $225.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Finally, UBS Group boosted their price objective on shares of SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $249.07.

SBA Communications Stock Down 0.5%

Shares of NASDAQ:SBAC opened at $188.12 on Tuesday. The company has a market capitalization of $20.20 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $252.64. The firm has a 50 day moving average of $203.68 and a 200 day moving average of $220.44.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.29 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 year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is presently 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.