Lbp Am Sa Sells 43,000 Shares of SBA Communications Corporation $SBAC

Key Points

• Lbp Am Sa reduced its stake in SBA Communications Corporation by 49.6%, selling 43,000 shares, and now holds 43,705 shares valued at approximately $10.26 million.
• JPMorgan Chase & Co. significantly increased its shares in SBA Communications by 40.3%, acquiring an additional 1,715,541 shares in the first quarter.
• The company recently reported $3.17 earnings per share for the quarter, beating expectations, and announced a quarterly dividend of $1.11 with a yield of 2.3%.

Lbp Am Sa lowered its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 49.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,705 shares of the technology company's stock after selling 43,000 shares during the period. Lbp Am Sa's holdings in SBA Communications were worth $10,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of SBA Communications by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock valued at $1,314,265,000 after purchasing an additional 1,715,541 shares in the last quarter. Dodge & Cox grew its holdings in shares of SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares in the last quarter. Nuveen LLC purchased a new position in shares of SBA Communications in the first quarter valued at $152,973,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of SBA Communications by 394.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company's stock valued at $88,497,000 after purchasing an additional 320,819 shares in the last quarter. Finally, Woodline Partners LP grew its holdings in shares of SBA Communications by 1,069.4% in the first quarter. Woodline Partners LP now owns 326,673 shares of the technology company's stock valued at $71,871,000 after purchasing an additional 298,738 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

SBAC stock opened at $191.79 on Thursday. The business has a 50-day moving average price of $210.13 and a 200 day moving average price of $222.05. The company has a market capitalization of $20.59 billion, a P/E ratio of 24.37, a PEG ratio of 1.83 and a beta of 0.82. SBA Communications Corporation has a 1-year low of $186.81 and a 1-year high of $252.64.

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 for the quarter, beating the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications's payout ratio is presently 56.42%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBAC. Wells Fargo & Company raised their target price 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. UBS Group raised their target price 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. KeyCorp lowered their price target on SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Barclays lowered their price target on SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Finally, Morgan Stanley raised their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $250.40.

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.

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