KBC Group NV Cuts Stock Position in SBA Communications Corporation $SBAC

KBC Group NV trimmed its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 64.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 126,514 shares of the technology company’s stock after selling 225,416 shares during the quarter. KBC Group NV’s holdings in SBA Communications were worth $29,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in SBA Communications by 1.5% during 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 acquiring an additional 268,018 shares during the last quarter. Dodge & Cox boosted its stake in shares of SBA Communications by 15.5% in 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of SBA Communications by 40.3% during 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 purchasing an additional 1,715,541 shares during the last quarter. Diamond Hill Capital Management Inc. raised 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 purchasing an additional 135,682 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in SBA Communications by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,507,938 shares of the technology company’s stock worth $331,753,000 after purchasing an additional 14,918 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBAC stock opened at $193.95 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 $20.83 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. The business’s 50 day moving average price is $195.01 and its two-hundred day moving average price is $216.47.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.09. The company had revenue of $732.33 million for the quarter, compared to analyst estimates of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is currently 57.89%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent research reports. Barclays reduced their price objective on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Citigroup lowered their price objective on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the stock a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley dropped their price target on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.50.

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.