Vestmark Advisory Solutions Inc. Sells 3,211 Shares of SBA Communications Corporation $SBAC

Key Points

• Vestmark Advisory Solutions Inc. significantly reduced its holdings in SBA Communications by 60.9%, selling 3,211 shares and now owning 2,064 shares worth $454,000.
• Multiple institutional investors have made adjustments to their holdings in SBA Communications, with a total of 97.35% of the stock currently owned by institutional investors.
• SBA Communications' stock recently saw an increase of 1.6% to $223.71, and the company reported a 5.8% increase in revenue year-over-year, totaling $698.98 million.

Vestmark Advisory Solutions Inc. lessened its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 60.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,064 shares of the technology company's stock after selling 3,211 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in SBA Communications were worth $454,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in SBA Communications by 23.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after acquiring an additional 246 shares during the period. CWA Asset Management Group LLC acquired a new position in SBA Communications in the first quarter valued at approximately $302,000. GAMMA Investing LLC raised its holdings in SBA Communications by 38.6% in the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock worth $370,000 after purchasing an additional 469 shares during the period. Praxis Investment Management Inc. bought a new stake in shares of SBA Communications during the first quarter worth $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock valued at $3,146,000 after purchasing an additional 1,769 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Up 0.8%

Shares of SBA Communications stock traded up $1.82 on Friday, hitting $222.71. The stock had a trading volume of 295,198 shares, compared to its average volume of 856,598. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The stock has a market cap of $23.91 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.06 and a beta of 0.77. The stock's 50-day simple moving average is $228.95 and its two-hundred day simple moving average is $224.52.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.0%. SBA Communications's payout ratio is 56.42%.

Analysts Set New Price Targets

SBAC has been the subject of a number of research reports. UBS Group raised their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the company a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company increased their price target on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $258.25.

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.