Aware Super Pty Ltd as trustee of Aware Super Sells 2,088 Shares of SBA Communications Corporation $SBAC

Key Points

• Aware Super Pty Ltd reduced its stake in SBA Communications by 1.6% in Q2, selling 2,088 shares and now owns around 0.12% of the company valued at $29.9 million.
• SBA Communications received multiple analysts' price target adjustments, with Barclays lowering its target from $257 to $226, among other changes from firms like UBS and Wells Fargo, indicating varied outlooks on the stock.
• The technology company recently declared a quarterly dividend of $1.11 per share, resulting in an annualized dividend yield of 2.3% and a payout ratio of 56.42%.

Aware Super Pty Ltd as trustee of Aware Super trimmed its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 127,515 shares of the technology company's stock after selling 2,088 shares during the period. Aware Super Pty Ltd as trustee of Aware Super owned about 0.12% of SBA Communications worth $29,946,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of SBA Communications by 38.6% in the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock worth $370,000 after purchasing an additional 469 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of SBA Communications by 2.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,615 shares of the technology company's stock worth $1,015,000 after purchasing an additional 110 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of SBA Communications by 75.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company's stock worth $3,215,000 after purchasing an additional 6,272 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of SBA Communications by 35.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 518 shares of the technology company's stock worth $114,000 after purchasing an additional 136 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. Barclays reduced their price target on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. UBS Group reduced their price target on SBA Communications from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company raised their price target on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday, August 5th. Finally, KeyCorp reduced their target price on SBA Communications from $280.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $248.40.

SBA Communications Price Performance

SBAC opened at $194.45 on Thursday. The business's 50-day moving average price is $202.62 and its two-hundred day moving average price is $220.06. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $252.64. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 2.01 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) 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 firm had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same quarter last year, the business posted $3.29 EPS. The company'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. Sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications's dividend payout ratio (DPR) 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.

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