American Century Companies Inc. Sells 22,334 Shares of SBA Communications Corporation $SBAC

Key Points

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American Century Companies Inc. reduced its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 419,913 shares of the technology company's stock after selling 22,334 shares during the period. American Century Companies Inc. owned approximately 0.39% of SBA Communications worth $92,385,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in SBA Communications during the 1st quarter worth approximately $28,000. Stone House Investment Management LLC acquired a new stake in shares of SBA Communications in the first quarter valued at approximately $33,000. Allworth Financial LP raised its holdings in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of SBA Communications in the first quarter valued at approximately $47,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 0.8%

Shares of NASDAQ:SBAC traded up $1.7850 during midday trading on Friday, hitting $222.6750. The stock had a trading volume of 334,895 shares, compared to its average volume of 856,715. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The business's 50-day simple moving average is $228.95 and its 200-day simple moving average is $224.52. The company has a market cap of $23.91 billion, a P/E ratio of 28.34, a PEG ratio of 2.06 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. During the same period last year, the business earned $3.29 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. 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 year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's payout ratio is 56.42%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SBAC. Scotiabank began coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a report on Tuesday, May 20th. Barclays lifted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and an average target price of $258.25.

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.