Mutual of America Capital Management LLC Sells 182 Shares of SBA Communications Corporation $SBAC

Mutual of America Capital Management LLC trimmed its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,321 shares of the technology company’s stock after selling 182 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SBA Communications were worth $2,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. GAMMA Investing LLC boosted its position in shares of SBA Communications by 38.6% during the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after acquiring an additional 469 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of SBA Communications by 75.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company’s stock valued at $3,215,000 after acquiring an additional 6,272 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of SBA Communications by 11.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 608 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of SBA Communications by 27.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,985 shares of the technology company’s stock valued at $437,000 after acquiring an additional 431 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of SBA Communications by 9.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 44,973 shares of the technology company’s stock valued at $9,895,000 after acquiring an additional 3,923 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 1.3%

Shares of SBAC opened at $198.68 on Friday. The company has a market cap of $21.33 billion, a PE ratio of 25.25, a P/E/G ratio of 2.07 and a beta of 0.82. The business has a fifty day moving average of $199.49 and a 200 day moving average of $219.01. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $247.04.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping 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 company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period last year, the company earned $3.29 earnings per share. SBA Communications’s revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal 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 paid a $1.11 dividend. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is presently 56.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup lowered their target price 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. Raymond James Financial set a $265.00 target price on SBA Communications and gave the company a “strong-buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company lowered their target price on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price target for the company. Finally, JMP Securities set a $280.00 price target on SBA Communications and gave the stock a “market outperform” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $242.40.

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.