Curated Wealth Partners LLC Reduces Holdings in SBA Communications Corporation $SBAC

Curated Wealth Partners LLC reduced its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,738 shares of the technology company’s stock after selling 830 shares during the period. Curated Wealth Partners LLC’s holdings in SBA Communications were worth $878,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. NorthCrest Asset Manangement LLC lifted its position in shares of SBA Communications by 3.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after buying an additional 44 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock worth $55,000 after acquiring an additional 45 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock valued at $1,440,000 after purchasing an additional 46 shares in the last quarter. Advisors Asset Management Inc. raised its position in SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after purchasing an additional 47 shares during the period. Finally, Oakworth Capital Inc. raised its holdings in SBA Communications by 25.8% during the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company’s stock valued at $64,000 after buying an additional 60 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $191.07 on Wednesday. The business’s 50 day moving average price is $203.12 and its 200-day moving average price is $220.23. The firm has a market capitalization of $20.52 billion, a PE ratio of 24.28, a P/E/G ratio of 1.98 and a beta of 0.82. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the company posted $3.29 EPS. The company’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 expect 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 was paid on Thursday, September 18th. Shareholders 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 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s dividend payout ratio is 56.42%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SBAC shares. Bank of America lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Morgan Stanley raised their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday. The Goldman Sachs Group cut their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group cut their price target on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average price target of $248.40.

SBA Communications Company Profile

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.