SBA Communications Corporation $SBAC Shares Sold by Uniplan Investment Counsel Inc.

Key Points

• Uniplan Investment Counsel Inc. reduced its holdings in SBA Communications Corporation by 7.6%, now owning 46,030 shares, which account for about 1.0% of its portfolio.
• Several major hedge funds like Vanguard Group Inc. and JPMorgan Chase & Co. increased their stakes in SBA Communications, indicating positive investor sentiment, with shares of the company trading at $197.74.
• Analysts have mixed outlooks on the company, with Barclays raising the price target to $257.00 while Bank of America downgraded it from "buy" to "neutral" with a target of $230.00.

Uniplan Investment Counsel Inc. trimmed its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 7.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,030 shares of the technology company's stock after selling 3,798 shares during the quarter. SBA Communications comprises approximately 1.0% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 25th biggest position. Uniplan Investment Counsel Inc.'s holdings in SBA Communications were worth $10,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of SBA Communications by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock valued at $3,886,844,000 after buying an additional 268,018 shares in the last quarter. Dodge & Cox raised its stake in SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after acquiring an additional 1,139,009 shares in the last quarter. JPMorgan Chase & Co. lifted its position in 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 acquiring an additional 1,715,541 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in SBA Communications by 7.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock valued at $439,310,000 after acquiring an additional 135,682 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in SBA Communications by 11.5% in the first quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company's stock valued at $436,969,000 after acquiring an additional 204,902 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBAC. Barclays lifted their target price on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. JMP Securities set a $280.00 price objective on SBA Communications and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Finally, Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the company a "strong-buy" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Trading Up 1.3%

Shares of SBAC stock opened at $197.74 on Friday. The company has a market capitalization of $21.23 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The business's 50 day moving average is $223.83 and its two-hundred day moving average is $224.78. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping the consensus estimate 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 business had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. During the same quarter in the prior year, the business earned $3.29 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. SBA Communications's payout ratio is presently 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.

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