IFM Investors Pty Ltd Decreases Stock Position in SBA Communications Corporation $SBAC

Key Points

• IFM Investors Pty Ltd reduced its stake in SBA Communications by 19.5%, now holding 26,793 shares valued at approximately $5.9 million.
• SBA Communications reported $3.17 EPS for the last quarter, exceeding estimates, with revenue of $698.98 million, up 5.8% year-over-year.
• Recent analyst ratings include a downgrade from Deutsche Bank from "buy" to "hold," while Barclays and Raymond James set target prices of $257.00 and $265.00 respectively.

IFM Investors Pty Ltd lowered its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,793 shares of the technology company's stock after selling 6,488 shares during the quarter. IFM Investors Pty Ltd's holdings in SBA Communications were worth $5,895,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in SBA Communications in the 1st quarter worth $28,000. Stone House Investment Management LLC bought a new stake in shares of SBA Communications in the 1st quarter worth about $33,000. Allworth Financial LP increased its holdings in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of SBA Communications in the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

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

SBA Communications Trading Up 3.0%

Shares of NASDAQ:SBAC opened at $199.44 on Friday. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.84 and a beta of 0.80. SBA Communications Corporation has a 12 month low of $186.81 and a 12 month high of $252.64. The firm's 50-day moving average is $220.43 and its 200 day moving average is $224.19.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released 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 analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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 given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's payout ratio is 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.

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