Meiji Yasuda Asset Management Co Ltd. Sells 106 Shares of SBA Communications Corporation $SBAC

Meiji Yasuda Asset Management Co Ltd. lessened its position in SBA Communications Corporation (NASDAQ:SBAC) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,844 shares of the technology company’s stock after selling 106 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in SBA Communications were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SBAC. Vanguard Group Inc. grew its position 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 valued at $3,886,844,000 after purchasing an additional 268,018 shares during the last quarter. Dodge & Cox boosted 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 valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the period. JPMorgan Chase & Co. grew its holdings in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after buying an additional 1,715,541 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in SBA Communications by 7.3% in 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 buying an additional 135,682 shares during the period. Finally, Victory Capital Management Inc. increased its position in SBA Communications by 11.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock worth $436,969,000 after buying an additional 204,902 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBAC has been the subject of several research reports. Bank of America cut SBA Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $230.00 in a research report on Wednesday, August 27th. UBS Group increased their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Barclays boosted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a “market outperform” rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price target on the stock. in a research note on Tuesday, May 20th. Two research 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’s stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $256.38.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $193.57 on Thursday. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The firm has a market cap of $20.79 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.80. The firm’s 50-day simple moving average is $221.14 and its 200-day simple moving average is $224.29.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same period in the previous year, the business earned $3.29 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, equities analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be paid 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 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.