Robeco Institutional Asset Management B.V. Lowers Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in SBA Communications by 16.4%, now holding 35,349 shares worth approximately $8.3 million.
• Other institutional investors, including JPMorgan Chase & Co. and T. Rowe Price Investment Management Inc., have both significantly increased their positions, reflecting strong interest in SBA Communications.
• SBA Communications recently reported earnings of $3.17 per share, exceeding analyst expectations, with revenues of $698.98 million for the quarter.

Robeco Institutional Asset Management B.V. lessened its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 16.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 35,349 shares of the technology company's stock after selling 6,930 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in SBA Communications were worth $8,301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. JPMorgan Chase & Co. boosted its stake in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares during the period. Dodge & Cox lifted its position 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 worth $1,866,843,000 after buying an additional 1,139,009 shares in the last quarter. Nuveen LLC purchased a new stake in shares of SBA Communications in the first quarter worth about $152,973,000. T. Rowe Price Investment Management Inc. boosted its stake in SBA Communications by 394.0% during 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 buying an additional 320,819 shares during the last quarter. Finally, Woodline Partners LP grew its holdings in SBA Communications by 1,069.4% during the 1st quarter. Woodline Partners LP now owns 326,673 shares of the technology company's stock valued at $71,871,000 after buying an additional 298,738 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 0.2%

Shares of NASDAQ:SBAC opened at $192.09 on Monday. The company has a market capitalization of $20.63 billion, a PE ratio of 24.41, a P/E/G ratio of 1.82 and a beta of 0.82. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64. The business's fifty day simple moving average is $208.42 and its 200-day simple moving average is $221.65.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million for 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. 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 dividend payout ratio is currently 56.42%.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent research reports. Morgan Stanley upped their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of SBA Communications in a research report on Saturday, September 27th. Royal Bank Of Canada reduced their target price on shares of SBA Communications from $255.00 to $235.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, UBS Group upped their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $249.07.

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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Corporation (NASDAQ:SBAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.