Cbre Investment Management Listed Real Assets LLC Sells 4,934 Shares of SBA Communications Corporation $SBAC

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its stake in SBA Communications by 4.6%, selling 4,934 shares to hold a total of 101,366 shares worth approximately $22.3 million.
• SBA Communications Corporation reported a quarterly EPS of $3.17, exceeding estimates, and announced a quarterly dividend of $1.11 per share, indicating a 2.0% yield.
• Analysts have varied ratings on SBA Communications, with a consensus price target of $258.25, indicating a generally positive outlook despite some mixed reviews from different firms.

Cbre Investment Management Listed Real Assets LLC reduced its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,366 shares of the technology company's stock after selling 4,934 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned 0.09% of SBA Communications worth $22,302,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in SBA Communications by 23.9% during the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after purchasing an additional 246 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in SBA Communications during the 1st quarter valued at $302,000. GAMMA Investing LLC raised its stake in SBA Communications by 38.6% during the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after purchasing an additional 469 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in SBA Communications during the 1st quarter valued at $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in SBA Communications by 14.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock valued at $3,146,000 after purchasing an additional 1,769 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Down 1.2%

NASDAQ:SBAC traded down $2.49 during mid-day trading on Thursday, reaching $205.65. 647,584 shares of the company were exchanged, compared to its average volume of 859,574. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The company has a fifty day moving average of $228.09 and a 200 day moving average of $224.93. The stock has a market cap of $22.08 billion, a PE ratio of 26.17, a PEG ratio of 2.01 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the firm earned $3.29 EPS. The company's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBAC shares. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. UBS Group boosted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Bank of America lowered shares of SBA Communications from a "buy" rating to a "neutral" rating and lowered their price target for the company from $260.00 to $230.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a report on Tuesday, May 20th. Finally, Barclays boosted their price target on shares of SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Two 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 company's stock. According to MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

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.