SG Americas Securities LLC Sells 3,187 Shares of SBA Communications Corporation $SBAC

SG Americas Securities LLC trimmed its position in SBA Communications Corporation (NASDAQ:SBAC) by 50.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,104 shares of the technology company’s stock after selling 3,187 shares during the period. SG Americas Securities LLC’s holdings in SBA Communications were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in SBAC. CVA Family Office LLC lifted its holdings in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. Stone House Investment Management LLC acquired a new position in SBA Communications during the 1st quarter valued at about $33,000. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in SBA Communications in the first quarter worth about $47,000. Finally, Summit Securities Group LLC acquired a new stake in SBA Communications in the first quarter worth about $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. KeyCorp decreased their price target on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Morgan Stanley cut their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group lowered their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $238.06.

SBA Communications Stock Down 1.0%

Shares of SBAC opened at $193.09 on Tuesday. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $245.16. The stock’s 50-day moving average price is $194.98 and its 200-day moving average price is $214.03.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results 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. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. During the same period in the previous year, the company posted $3.32 earnings per share. SBA Communications’s revenue for the quarter was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be issued 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 yield of 2.3%. SBA Communications’s dividend 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.