Earnest Partners LLC Has $176.18 Million Holdings in SBA Communications Corporation $SBAC

Key Points

• Earnest Partners LLC has reduced its holdings in SBA Communications by 0.3%, retaining 800,790 shares of the company, which constitutes approximately 0.8% of its portfolio.
• SBA Communications has reported a quarterly revenue of $698.98 million, exceeding analyst estimates and reflecting a 5.8% year-over-year increase.
• The company is set to pay a quarterly dividend of $1.11 on September 18th, representing an annualized yield of 2.0%.

Earnest Partners LLC decreased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800,790 shares of the technology company's stock after selling 2,291 shares during the quarter. SBA Communications makes up 0.8% of Earnest Partners LLC's holdings, making the stock its 29th biggest position. Earnest Partners LLC owned about 0.74% of SBA Communications worth $176,182,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SBAC. Independence Bank of Kentucky bought a new position in SBA Communications during the 1st quarter worth $28,000. Stone House Investment Management LLC bought a new position in SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP increased its position in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares during the period. NBC Securities Inc. increased its position in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in SBA Communications during the 1st quarter worth $47,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBAC. Bank of America cut 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. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company increased their price objective on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research report on Tuesday, May 20th. Finally, JMP Securities set a $280.00 price target on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Two 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $256.38.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded down $1.19 during mid-day trading on Friday, reaching $204.85. The company had a trading volume of 1,350,775 shares, compared to its average volume of 942,862. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.94 and a beta of 0.77. The business's 50-day simple moving average is $227.15 and its 200 day simple moving average is $225.02.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 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 company had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. During the same quarter last year, the business earned $3.29 earnings per share. SBA Communications'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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications's dividend payout ratio (DPR) is 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.