SBA Communications Corporation $SBAC Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 40.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 32,737 shares of the technology company’s stock after selling 22,161 shares during the quarter. Los Angeles Capital Management LLC’s holdings in SBA Communications were worth $7,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Avanza Fonder AB grew its stake in SBA Communications by 37.3% in the 2nd quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock worth $2,063,000 after acquiring an additional 2,386 shares during the period. Jump Financial LLC boosted its holdings in shares of SBA Communications by 111.1% during the first quarter. Jump Financial LLC now owns 2,920 shares of the technology company’s stock worth $642,000 after purchasing an additional 1,537 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of SBA Communications in the second quarter valued at $453,000. XTX Topco Ltd acquired a new position in SBA Communications in the first quarter valued at $2,865,000. Finally, Circle Wealth Management LLC increased its stake in SBA Communications by 75.8% in the first quarter. Circle Wealth Management LLC now owns 5,785 shares of the technology company’s stock valued at $1,273,000 after purchasing an additional 2,494 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.4%

SBA Communications stock opened at $197.40 on Monday. The stock has a market cap of $21.20 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $245.16. The stock has a 50 day moving average of $195.08 and a 200-day moving average of $217.03.

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

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 13th. SBA Communications’s dividend payout ratio is 57.89%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Citigroup decreased their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. UBS Group cut their price target 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. Finally, The Goldman Sachs Group cut their price target on shares of 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 analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.69.

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.