True North Advisors LLC Sells 5,650 Shares of SBA Communications Corporation $SBAC

Key Points

• True North Advisors LLC reduced its stake in SBA Communications Corporation by 67.4%, selling 5,650 shares and leaving it with 2,727 shares valued at $640,000.
• SBA Communications recently declared a quarterly dividend of $1.11 per share, resulting in an annualized dividend yield of 2.3%.
• Analysts have varied opinions on SBA Communications, with price targets ranging from $226.00 to $285.00 and a consensus rating of "Moderate Buy."

True North Advisors LLC decreased its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 67.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,727 shares of the technology company's stock after selling 5,650 shares during the quarter. True North Advisors LLC's holdings in SBA Communications were worth $640,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in SBA Communications in the first quarter valued at about $28,000. Stone House Investment Management LLC bought a new position in SBA Communications in the first quarter valued at about $33,000. Allworth Financial LP lifted its holdings in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after acquiring an additional 62 shares during the period. Geneos Wealth Management Inc. lifted its holdings in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after acquiring an additional 84 shares during the period. Finally, NBC Securities Inc. lifted its holdings in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after acquiring an additional 189 shares during the period. Institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SBAC shares. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Barclays decreased their price objective on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research note on Monday, September 15th. JMP Securities set a $280.00 price objective on SBA Communications and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. UBS Group raised their price objective on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $252.57.

SBA Communications Trading Up 0.1%

NASDAQ:SBAC opened at $195.43 on Friday. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64. The stock has a 50-day moving average price of $213.51 and a 200 day moving average price of $222.70. The stock has a market capitalization of $20.99 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.85 and a beta of 0.80.

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, beating the consensus estimate of $3.10 by $0.07. The business 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 firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, research 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 declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) is currently 56.42%.

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.

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