Thurston Springer Miller Herd & Titak Inc. cut its holdings in SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 19.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325 shares of the technology company’s stock after selling 77 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in SBA Communications were worth $76,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Central Pacific Bank Trust Division increased its position in shares of SBA Communications by 7.2% in the second quarter. Central Pacific Bank Trust Division now owns 2,411 shares of the technology company’s stock valued at $566,000 after buying an additional 161 shares in the last quarter. Kera Capital Partners Inc. increased its position in shares of SBA Communications by 16.3% in the second quarter. Kera Capital Partners Inc. now owns 1,491 shares of the technology company’s stock valued at $350,000 after buying an additional 209 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $1,380,000. BROOKFIELD Corp ON increased its position in shares of SBA Communications by 1.8% in the first quarter. BROOKFIELD Corp ON now owns 1,008,947 shares of the technology company’s stock valued at $221,978,000 after buying an additional 17,702 shares in the last quarter. Finally, First Hawaiian Bank increased its position in shares of SBA Communications by 7.9% in the first quarter. First Hawaiian Bank now owns 13,354 shares of the technology company’s stock valued at $2,938,000 after buying an additional 977 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
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SBA Communications Trading Up 0.1%
SBAC opened at $199.38 on Thursday. The stock’s 50-day moving average price is $217.61 and its 200 day moving average price is $223.68. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.88 and a beta of 0.80.
SBA Communications (NASDAQ:SBAC – Get Free Report) last posted 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. 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 for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the company earned $3.29 EPS. SBA Communications’s revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.
SBA Communications Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications’s dividend payout ratio is 56.42%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. JMP Securities set a $280.00 price objective on SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Wells Fargo & Company boosted their price target on SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. Scotiabank assumed coverage on SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price target for the company. Barclays dropped their price target on SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Bank of America cut SBA Communications from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Two equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.63.
Check Out Our Latest Stock Analysis on SBA Communications
About SBA Communications
(Free Report)
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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