BNP Paribas Financial Markets Decreases Position in SBA Communications Corporation $SBAC

Key Points

• BNP Paribas Financial Markets decreased its stake in SBA Communications Corporation by 21.6% in the first quarter, now owning 197,430 shares valued at approximately $43.4 million.
• SBA Communications reported a quarterly earnings per share (EPS) of $3.17, exceeding analysts’ expectations, with revenue of $698.98 million, a year-over-year increase of 5.8%.
• The company has announced a quarterly dividend of $1.11 per share, with a payout ratio of 56.42% and an annualized yield of 2.2%, payable on September 18th.

BNP Paribas Financial Markets cut its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 21.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,430 shares of the technology company's stock after selling 54,418 shares during the period. BNP Paribas Financial Markets owned 0.18% of SBA Communications worth $43,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of SBA Communications by 1.5% in the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock worth $3,886,844,000 after acquiring an additional 268,018 shares during the last quarter. Dodge & Cox raised its holdings in shares of SBA Communications by 15.5% in the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after buying an additional 1,139,009 shares during the period. JPMorgan Chase & Co. increased its holdings in SBA Communications by 40.3% during 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. Deutsche Bank AG increased its holdings in SBA Communications by 5.9% during the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock worth $491,549,000 after purchasing an additional 134,624 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in SBA Communications by 7.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock worth $439,310,000 after purchasing an additional 135,682 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBAC. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Wells Fargo & Company lifted their price objective on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. UBS Group lifted their price objective on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Scotiabank started coverage on SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price objective for the company. Finally, Morgan Stanley lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Trading Down 2.1%

Shares of NASDAQ SBAC traded down $4.14 during trading on Thursday, reaching $195.17. The company had a trading volume of 2,126,029 shares, compared to its average volume of 883,179. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64. The stock has a market capitalization of $20.96 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.94 and a beta of 0.80. The stock has a 50-day moving average price of $225.21 and a two-hundred day moving average price of $224.79.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. On average, sell-side analysts predict 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. Stockholders of record on Thursday, August 21st will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications's payout ratio is currently 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.