Capital Fund Management S.A. Decreases Stake in SBA Communications Corporation $SBAC

Key Points

• Capital Fund Management S.A. significantly reduced its stake in SBA Communications by 61.7%, now holding 24,733 shares after selling 39,786 shares in the first quarter.
• Analysts have a positive outlook for SBA Communications, with price targets being raised by firms such as Wells Fargo and UBS Group, reflecting strong potential growth in the company's stock.
• SBA Communications announced a quarterly dividend of $1.11, translating to an annualized dividend yield of 2.0%, with a payout ratio of 56.42%.

Capital Fund Management S.A. trimmed its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 61.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,733 shares of the technology company's stock after selling 39,786 shares during the period. Capital Fund Management S.A.'s holdings in SBA Communications were worth $5,442,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of SBA Communications during the 1st quarter worth approximately $28,000. Stone House Investment Management LLC bought a new position in shares of SBA Communications in the 1st quarter worth $33,000. Allworth Financial LP lifted its holdings in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after purchasing an additional 62 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after purchasing an additional 189 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of SBA Communications in the 1st quarter worth $47,000. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America cut SBA Communications from a "buy" rating to a "neutral" rating and cut their target price for the stock from $260.00 to $230.00 in a report on Wednesday. JMP Securities set a $280.00 target price on SBA Communications and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. BMO Capital Markets increased their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday, April 29th. Barclays increased their target price on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Citigroup reiterated an "outperform" rating on shares of SBA Communications in a 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 given a Hold rating to the company's stock. According to MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and a consensus target price of $256.38.

SBA Communications Stock Down 4.5%

NASDAQ:SBAC traded down $9.88 during trading hours on Wednesday, hitting $208.96. 763,260 shares of the company traded hands, compared to its average volume of 857,725. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The company has a market cap of $22.44 billion, a PE ratio of 26.59, a PEG ratio of 2.04 and a beta of 0.77. The firm's 50-day simple moving average is $228.49 and its 200-day simple moving average is $225.05.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same period last year, the firm posted $3.29 EPS. The business's 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 research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.1%. SBA Communications's dividend payout ratio (DPR) 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.