SBA Communications Corporation $SBAC Shares Sold by Presima Securities ULC

Key Points

• Presima Securities ULC significantly reduced its holdings in SBA Communications by 87.1%, selling 63,023 shares and now owns only 9,372 shares, which constitutes 0.5% of its portfolio.
• SBA Communications recently reported quarterly earnings of $3.17 per share, surpassing estimates, and announced a quarterly dividend of $1.11 per share, reflecting a 2.2% dividend yield.
• Despite mixed ratings from analysts, the consensus target price for SBA Communications is $256.38, with most analysts rating the stock between "Buy" and "Hold."

Presima Securities ULC lowered its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 87.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,372 shares of the technology company's stock after selling 63,023 shares during the period. SBA Communications makes up approximately 0.5% of Presima Securities ULC's investment portfolio, making the stock its 27th largest holding. Presima Securities ULC's holdings in SBA Communications were worth $2,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company's stock valued at $166,000 after acquiring an additional 551 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of SBA Communications during the first quarter worth $356,000. Nissay Asset Management Corp Japan ADV lifted its position in SBA Communications by 1.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,098 shares of the technology company's stock valued at $2,882,000 after purchasing an additional 170 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in SBA Communications by 48.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,253 shares of the technology company's stock valued at $15,236,000 after purchasing an additional 22,646 shares during the period. Finally, Concentric Capital Strategies LP purchased a new stake in SBA Communications in the first quarter valued at $933,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of several analyst reports. Morgan Stanley boosted their price objective on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Bank of America lowered SBA Communications from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. Barclays increased their price target 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. Finally, UBS Group lifted their price objective 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. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.38.

SBA Communications Price Performance

NASDAQ SBAC traded up $2.10 on Wednesday, hitting $193.57. The company had a trading volume of 1,517,434 shares, compared to its average volume of 1,196,841. The company's fifty day moving average price is $222.02 and its 200-day moving average price is $224.50. The company has a market capitalization of $20.79 billion, a PE ratio of 14.59, a PEG ratio of 1.82 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.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period in the previous year, the company posted $3.29 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be given a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications's dividend payout ratio is 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.