Voya Investment Management LLC Sells 577 Shares of SBA Communications Corporation $SBAC

Voya Investment Management LLC reduced its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,263 shares of the technology company’s stock after selling 577 shares during the quarter. Voya Investment Management LLC’s holdings in SBA Communications were worth $10,178,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of SBA Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock valued at $3,886,844,000 after purchasing an additional 268,018 shares during the last quarter. Dodge & Cox grew its stake in shares of SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after purchasing an additional 1,715,541 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of SBA Communications by 7.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock valued at $439,310,000 after purchasing an additional 135,682 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of SBA Communications by 11.5% during the first quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock valued at $436,969,000 after purchasing an additional 204,902 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

Shares of SBAC stock opened at $199.18 on Wednesday. The firm’s 50 day moving average price is $218.31 and its two-hundred day moving average price is $223.85. The stock has a market cap of $21.39 billion, a PE ratio of 25.31, a PEG ratio of 1.87 and a beta of 0.80. SBA Communications Corporation has a 52-week low of $186.81 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is 56.42%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price target on the stock. in a research note on Tuesday, May 20th. Morgan Stanley raised their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a “strong-buy” rating in a research note on Tuesday, August 5th. Barclays reduced their price objective on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a “market outperform” rating in a research note on Tuesday, August 5th. Two equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.44.

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.