Polar Asset Management Partners Inc. Sells 24,147 Shares of SBA Communications Corporation $SBAC

Key Points

• Polar Asset Management Partners Inc. has reduced its stake in SBA Communications Corporation by 44.6%, owning 29,953 shares valued at approximately $6.59 million as of the last filing.
• Several analysts issued reports on SBA Communications, with a consensus rating of "Moderate Buy" and an average price target set at $256.38.
• SBA Communications announced a quarterly dividend of $1.11 per share, resulting in a yield of 2.2%, with the dividend payout ratio currently at 56.42%.

Polar Asset Management Partners Inc. cut its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 44.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,953 shares of the technology company's stock after selling 24,147 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in SBA Communications were worth $6,590,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in shares of SBA Communications by 89.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,922 shares of the technology company's stock worth $1,207,000 after buying an additional 2,795 shares during the period. AXA S.A. lifted its position in shares of SBA Communications by 17.4% during the 4th quarter. AXA S.A. now owns 13,100 shares of the technology company's stock worth $2,670,000 after buying an additional 1,939 shares during the period. Baird Financial Group Inc. lifted its position in shares of SBA Communications by 25.2% during the 4th quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock worth $498,000 after buying an additional 492 shares during the period. Captrust Financial Advisors lifted its position in shares of SBA Communications by 56.0% during the 4th quarter. Captrust Financial Advisors now owns 6,738 shares of the technology company's stock worth $1,373,000 after buying an additional 2,420 shares during the period. Finally, Colonial Trust Co SC lifted its position in shares of SBA Communications by 36.7% during the 4th quarter. Colonial Trust Co SC now owns 685 shares of the technology company's stock worth $140,000 after buying an additional 184 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Scotiabank assumed coverage on SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. UBS Group lifted their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the company a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company lifted their target price on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. 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. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Stock Performance

SBAC traded up $1.35 during mid-day trading on Thursday, reaching $194.92. The stock had a trading volume of 576,670 shares, compared to its average volume of 907,798. The stock has a market capitalization of $20.93 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.82 and a beta of 0.80. The firm's fifty day simple moving average is $221.14 and its two-hundred day simple moving average is $224.29. SBA Communications Corporation has a 52 week low of $186.81 and a 52 week high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced 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 firm had revenue of $698.98 million for 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 business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications's payout ratio is presently 56.42%.

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.