Amundi Has $153.32 Million Stake in SBA Communications Corporation $SBAC

Key Points

• Amundi has reduced its stake in SBA Communications by 16.1%, selling 129,432 shares and now holding 676,143 shares valued at $153.3 million.
• SBA Communications reported earnings of $3.17 per share, surpassing analysts' estimates, with revenue of $698.98 million reflecting a 5.8% increase year-over-year.
• The company declared a quarterly dividend of $1.11 per share, translating to an annualized dividend yield of 2.3% and a payout ratio of 56.42%.

Amundi reduced its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 676,143 shares of the technology company's stock after selling 129,432 shares during the quarter. Amundi owned 0.63% of SBA Communications worth $153,319,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new position in SBA Communications in the 1st quarter worth about $28,000. Stone House Investment Management LLC acquired a new position in SBA Communications during the first quarter worth $33,000. Allworth Financial LP increased its position in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after acquiring an additional 189 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of SBA Communications during the 1st quarter valued at about $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. UBS Group raised their target price on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. 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 research note on Tuesday, May 20th. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. Finally, Citigroup restated an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $256.38.

SBA Communications Stock Up 0.8%

SBA Communications stock traded up $1.44 during mid-day trading on Wednesday, hitting $192.91. 241,526 shares of the company's stock were exchanged, compared to its average volume of 902,237. The firm has a market capitalization of $20.71 billion, a P/E ratio of 24.47, a PEG ratio of 1.82 and a beta of 0.80. SBA Communications Corporation has a fifty-two week low of $186.81 and a fifty-two week high of $252.64. The company's 50 day simple moving average is $222.02 and its 200-day simple moving average is $224.50.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data 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 negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. During the same quarter in the previous year, the business posted $3.29 EPS. SBA Communications's revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications's payout ratio is currently 56.42%.

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.