SBA Communications Corporation $SBAC Shares Sold by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management LLC has reduced its stake in SBA Communications Corporation by 32.0%, selling 51,137 shares, leaving them with 108,525 shares that now represent 0.6% of their investment portfolio.
• SBA Communications reported a 5.8% increase in revenue year-over-year for the most recent quarter, with earnings per share (EPS) of $3.17 beating the consensus estimate.
• The company has declared a quarterly dividend of $1.11 per share, with an annualized yield of 2.2%, set to be paid on September 18th.

Boothbay Fund Management LLC decreased its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,525 shares of the technology company's stock after selling 51,137 shares during the period. SBA Communications comprises 0.6% of Boothbay Fund Management LLC's portfolio, making the stock its 11th largest holding. Boothbay Fund Management LLC owned 0.10% of SBA Communications worth $23,877,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. Farther Finance Advisors LLC raised its position in SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after acquiring an additional 45 shares during the last quarter. Advisors Asset Management Inc. raised its position in SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock worth $194,000 after acquiring an additional 47 shares during the last quarter. Central Pacific Bank Trust Division raised its position in SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after acquiring an additional 50 shares during the last quarter. Oakworth Capital Inc. raised its position in SBA Communications by 25.8% during the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock worth $64,000 after acquiring an additional 60 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its position in SBA Communications by 6.0% during the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock worth $242,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBAC. Citigroup restated an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research report on Tuesday, May 20th. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Barclays boosted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Price Performance

SBAC stock traded up $2.57 on Friday, hitting $197.74. 1,863,233 shares of the company were exchanged, compared to its average volume of 955,243. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64. The business's fifty day moving average is $223.83 and its two-hundred day moving average is $224.78. The stock has a market capitalization of $21.23 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping 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 firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the business posted $3.29 earnings per share. SBA Communications's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

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

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.