APG Asset Management N.V. Reduces Position in SBA Communications Corporation $SBAC

Key Points

• APG Asset Management N.V. decreased its holdings in SBA Communications Corporation by 9.6% during the 1st quarter, now owning approximately 0.08% of the company, valued at $17.8 million.
• Wall Street analysts show varied ratings for SBA Communications, with a current average rating of "Moderate Buy" and an average target price of $258.25.
• SBA Communications recently declared a quarterly dividend of $1.11 per share, with an annual yield of 2.0% and a payout ratio of 56.42%.

APG Asset Management N.V. trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,531 shares of the technology company's stock after selling 9,344 shares during the quarter. APG Asset Management N.V. owned 0.08% of SBA Communications worth $17,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. JPMorgan Chase & Co. grew its stake in SBA Communications by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares in the last quarter. BROOKFIELD Corp ON grew its stake in SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after purchasing an additional 987,647 shares in the last quarter. Nuveen LLC acquired a new position in SBA Communications during the 1st quarter worth $152,973,000. GAMMA Investing LLC grew its stake in SBA Communications by 30,393.6% during the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after purchasing an additional 369,282 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in SBA Communications by 394.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company's stock worth $88,497,000 after purchasing an additional 320,819 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SBAC shares. JMP Securities set a $280.00 target price on SBA Communications and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. Barclays boosted their target price on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley upped their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Bank of America cut SBA Communications from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $260.00 to $230.00 in a research report on Wednesday. Finally, Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Two research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $256.38.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $1.19 on Friday, hitting $204.85. 1,350,775 shares of the company's stock were exchanged, compared to its average volume of 942,862. The firm's 50-day moving average is $227.15 and its 200 day moving average is $225.02. The company has a market capitalization of $22.00 billion, a PE ratio of 26.03, a P/E/G ratio of 1.94 and a beta of 0.77. SBA Communications Corporation has a 1-year low of $192.55 and a 1-year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. The firm had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 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 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) is currently 56.42%.

About SBA Communications

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.