Caisse DE Depot ET Placement DU Quebec Sells 88,119 Shares of SBA Communications Corporation $SBAC

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in SBA Communications Corporation by 28.6%, now owning approximately 0.20% of the company after selling 88,119 shares.
• Analyst ratings for SBA Communications show a mixed outlook, with price targets ranging from $247.00 to $265.00, resulting in an average target price of $258.25.
• SBA Communications announced a $1.11 quarterly dividend, with an ex-dividend date set for August 21st, representing a 2.0% annual yield.

Caisse DE Depot ET Placement DU Quebec lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 28.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,720 shares of the technology company's stock after selling 88,119 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.20% of SBA Communications worth $48,341,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Synovus Financial Corp raised its holdings in shares of SBA Communications by 17.2% during the 1st quarter. Synovus Financial Corp now owns 15,482 shares of the technology company's stock worth $3,406,000 after buying an additional 2,269 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of SBA Communications by 15.3% during the 1st quarter. Walleye Capital LLC now owns 77,320 shares of the technology company's stock worth $17,011,000 after buying an additional 10,273 shares in the last quarter. Dodge & Cox raised its holdings in shares of SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after buying an additional 1,139,009 shares in the last quarter. Jump Financial LLC raised its holdings in shares of SBA Communications by 111.1% during the 1st quarter. Jump Financial LLC now owns 2,920 shares of the technology company's stock worth $642,000 after buying an additional 1,537 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in SBA Communications in the 1st quarter worth about $85,000. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Trading Down 0.6%

Shares of NASDAQ SBAC traded down $1.19 during mid-day trading on Friday, hitting $204.85. The company had a trading volume of 1,350,775 shares, compared to its average volume of 942,862. The company has a market capitalization of $22.00 billion, a price-to-earnings 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. The stock's 50-day moving average price is $227.15 and its 200-day moving average price is $225.02.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be paid 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 payout ratio is 56.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBAC. 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. Wells Fargo & Company increased their price target on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. UBS Group increased their price target on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $230.00 in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $256.38.

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.