Banco Bilbao Vizcaya Argentaria S.A. Sells 3,388 Shares of SBA Communications Corporation $SBAC

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 37.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,540 shares of the technology company’s stock after selling 3,388 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in SBA Communications were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Impax Asset Management Group plc lifted its stake in shares of SBA Communications by 58.2% in the 2nd quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock valued at $1,292,000 after purchasing an additional 2,023 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in SBA Communications by 4.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 16,251 shares of the technology company’s stock valued at $3,816,000 after buying an additional 678 shares during the period. PNC Financial Services Group Inc. boosted its holdings in SBA Communications by 8.2% during the second quarter. PNC Financial Services Group Inc. now owns 18,962 shares of the technology company’s stock worth $4,453,000 after buying an additional 1,433 shares during the last quarter. United Asset Strategies Inc. grew its position in shares of SBA Communications by 4.1% during the 2nd quarter. United Asset Strategies Inc. now owns 3,310 shares of the technology company’s stock worth $777,000 after buying an additional 131 shares during the period. Finally, Tobam increased its stake in shares of SBA Communications by 171.6% in the 2nd quarter. Tobam now owns 7,222 shares of the technology company’s stock valued at $1,696,000 after acquiring an additional 4,563 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 0.7%

Shares of NASDAQ SBAC opened at $195.78 on Tuesday. The company has a fifty day moving average price of $195.08 and a 200 day moving average price of $215.62. The firm has a market cap of $20.86 billion, a PE ratio of 24.88, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.09. The firm had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be given 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%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBAC shares. BMO Capital Markets reduced their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. UBS Group dropped their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company reduced their target price on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Finally, Williams Trading set a $237.00 price target on SBA Communications in a 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $238.06.

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.