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

Several other institutional investors have also recently added to or reduced their stakes in the business. Baird Financial Group Inc. grew its position in shares of SBA Communications by 25.2% during the fourth quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock worth $498,000 after acquiring an additional 492 shares during the last quarter. Captrust Financial Advisors grew its position in shares of SBA Communications by 56.0% during the fourth quarter. Captrust Financial Advisors now owns 6,738 shares of the technology company's stock worth $1,373,000 after acquiring an additional 2,420 shares during the last quarter. Focus Partners Wealth acquired a new stake in SBA Communications in the fourth quarter worth about $605,000. Janus Henderson Group PLC lifted its holdings in SBA Communications by 5.6% in the fourth quarter. Janus Henderson Group PLC now owns 182,792 shares of the technology company's stock worth $37,260,000 after purchasing an additional 9,688 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its holdings in SBA Communications by 20.5% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,517 shares of the technology company's stock worth $921,000 after purchasing an additional 768 shares during the period. Institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBAC. Wells Fargo & Company upped their price objective on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Morgan Stanley upped their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Scotiabank began coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective for the company. UBS Group upped their price objective on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Citigroup reissued an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Two equities research 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. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $251.63.

SBA Communications Trading Up 1.2%

SBAC stock traded up $2.46 during mid-day trading on Wednesday, reaching $201.64. 256,435 shares of the stock traded hands, compared to its average volume of 920,231. SBA Communications Corporation has a 52-week low of $186.81 and a 52-week high of $252.64. The company has a market cap of $21.65 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.87 and a beta of 0.80. The stock's fifty day moving average is $218.31 and its 200-day moving average is $223.85.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 31.19% and a negative return on equity of 16.83%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 earnings per share. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date 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%.

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.