King Luther Capital Management Corp Has $5.58 Million Stock Position in SBA Communications Corporation $SBAC

King Luther Capital Management Corp lowered its stake in SBA Communications Corporation (NASDAQ:SBAC) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,748 shares of the technology company’s stock after selling 2,100 shares during the period. King Luther Capital Management Corp’s holdings in SBA Communications were worth $5,577,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of SBA Communications by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock valued at $3,886,844,000 after buying an additional 268,018 shares during the period. Dodge & Cox grew its holdings in SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock worth $1,866,843,000 after acquiring an additional 1,139,009 shares during the period. JPMorgan Chase & Co. raised its position in shares of SBA Communications by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after acquiring an additional 1,715,541 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of SBA Communications by 7.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock worth $439,310,000 after purchasing an additional 135,682 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of SBA Communications by 11.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock worth $436,969,000 after purchasing an additional 204,902 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $197.40 on Monday. The firm has a market cap of $21.20 billion, a PE ratio of 25.08, a P/E/G ratio of 2.01 and a beta of 0.80. The business’s 50 day simple moving average is $195.08 and its 200 day simple moving average is $217.03. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The firm 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 revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts predict 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 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 is Thursday, November 13th. SBA Communications’s dividend payout ratio is currently 57.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBAC shares. Citigroup decreased their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Barclays lowered their price objective on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. JMP Securities set a $280.00 target price on SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.69.

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.