SBA Communications Corporation $SBAC Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,217 shares of the technology company’s stock after selling 766 shares during the quarter. Retirement Systems of Alabama owned 0.08% of SBA Communications worth $19,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC grew its stake in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares in the last quarter. Stone House Investment Management LLC acquired a new position in SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP grew its stake in SBA Communications by 62.0% during 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. Geneos Wealth Management Inc. grew its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in SBA Communications during the 1st quarter worth about $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBA Communications stock opened at $191.48 on Friday. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $245.16. The company has a market capitalization of $20.56 billion, a P/E ratio of 24.33, a PEG ratio of 2.01 and a beta of 0.82. The stock has a 50-day simple moving average of $196.71 and a 200-day simple moving average of $218.27.

SBA Communications (NASDAQ:SBAC) last posted its 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. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period in the previous year, the business earned $3.29 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications’s payout ratio is presently 56.42%.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Royal Bank Of Canada decreased their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. Wells Fargo & Company decreased their target price on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Citigroup decreased their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group decreased their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.07.

About SBA Communications

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.