Chilton Capital Management LLC Sells 1,951 Shares of SBA Communications Corporation $SBAC

Chilton Capital Management LLC trimmed its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,775 shares of the technology company’s stock after selling 1,951 shares during the period. Chilton Capital Management LLC owned approximately 0.06% of SBA Communications worth $14,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC grew its holdings in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. Stone House Investment Management LLC bought a new stake in SBA Communications during the 1st quarter worth approximately $33,000. Allworth Financial LP boosted its holdings in SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after purchasing an additional 62 shares during the period. Geneos Wealth Management Inc. grew its position in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in SBA Communications during the first quarter worth about $47,000. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Citigroup dropped their price target 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. Royal Bank Of Canada reduced their price objective on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Morgan Stanley cut their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. Finally, Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a “strong-buy” rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.40.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $198.68 on Friday. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $247.04. The firm has a market capitalization of $21.33 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.09 and a beta of 0.82. The stock has a 50 day moving average price of $199.49 and a 200-day moving average price of $219.08.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS 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 analyst estimates of $670.73 million. During the same quarter last year, the firm posted $3.29 earnings per share. The company’s revenue for the quarter 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 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is presently 56.42%.

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.