SBA Communications Corporation $SBAC Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. decreased its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 48.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150 shares of the technology company’s stock after selling 143 shares during the period. Oakworth Capital Inc.’s holdings in SBA Communications were worth $35,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new position in SBA Communications during the 1st quarter worth about $28,000. Stone House Investment Management LLC acquired a new position in SBA Communications during the 1st quarter worth about $33,000. Allworth Financial LP lifted 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 acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. lifted 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 acquiring an additional 84 shares in the last quarter. Finally, NBC Securities Inc. lifted its stake in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp decreased their target price on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Scotiabank initiated coverage on SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price on the stock. Barclays reduced their price target on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $230.00 in a research report on Wednesday, August 27th. Finally, Morgan Stanley increased their price target on SBA Communications from $255.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.57.

SBA Communications Price Performance

SBAC stock opened at $196.10 on Tuesday. The firm has a market capitalization of $21.06 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.84 and a beta of 0.80. The business’s 50-day moving average is $211.95 and its two-hundred day moving average is $222.46. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS 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 business had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same quarter in the prior year, the business posted $3.29 EPS. The business’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, analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

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