Stevens Capital Management LP Has $377,000 Stock Position in SBA Communications Corporation $SBAC

Stevens Capital Management LP lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 25.0% during the second quarter, Holdings Channel reports. The firm owned 1,606 shares of the technology company’s stock after selling 536 shares during the period. Stevens Capital Management LP’s holdings in SBA Communications were worth $377,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SBAC. CVA Family Office LLC raised its holdings in SBA Communications by 106.3% during the second 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 shares of SBA Communications during the 1st quarter worth about $33,000. Geneos Wealth Management Inc. increased its holdings 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 acquiring an additional 84 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in SBA Communications during the first quarter worth approximately $47,000. Finally, Summit Securities Group LLC acquired a new position in SBA Communications during the first quarter valued at approximately $47,000. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBAC has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. KeyCorp cut their target price on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Cowen restated a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Citigroup decreased their target price 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. Finally, BMO Capital Markets dropped their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $238.06.

SBA Communications Trading Down 0.1%

Shares of SBAC stock opened at $195.02 on Friday. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $245.16. The company has a market capitalization of $20.78 billion, a P/E ratio of 24.78, a P/E/G ratio of 2.01 and a beta of 0.80. The stock has a 50 day moving average of $195.08 and a two-hundred day moving average of $214.52.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. The business had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.SBA Communications’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts predict 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 will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, November 13th. SBA Communications’s payout ratio is 57.89%.

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.