Choreo LLC Has $1.41 Million Stock Position in SBA Communications Corporation $SBAC

Choreo LLC cut its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 5.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,984 shares of the technology company’s stock after selling 361 shares during the period. Choreo LLC’s holdings in SBA Communications were worth $1,405,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SBAC. Cetera Investment Advisers grew its position in shares of SBA Communications by 21.3% during the 1st quarter. Cetera Investment Advisers now owns 7,790 shares of the technology company’s stock worth $1,714,000 after purchasing an additional 1,370 shares in the last quarter. Assetmark Inc. raised its position in shares of SBA Communications by 25.1% in the first quarter. Assetmark Inc. now owns 717 shares of the technology company’s stock valued at $158,000 after buying an additional 144 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of SBA Communications by 40.6% in the first quarter. HB Wealth Management LLC now owns 1,784 shares of the technology company’s stock valued at $392,000 after buying an additional 515 shares during the period. LPL Financial LLC boosted its stake in shares of SBA Communications by 11.3% in the first quarter. LPL Financial LLC now owns 19,707 shares of the technology company’s stock valued at $4,336,000 after buying an additional 1,994 shares during the period. Finally, Mackenzie Financial Corp grew its position in SBA Communications by 12.9% during the first quarter. Mackenzie Financial Corp now owns 10,403 shares of the technology company’s stock worth $2,289,000 after buying an additional 1,191 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on SBAC shares. Wells Fargo & Company dropped their price objective on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Morgan Stanley dropped their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. The Goldman Sachs Group reduced their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Finally, TD Cowen cut their price target on shares of SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.06.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $194.76 on Friday. The company’s 50 day moving average price is $194.60 and its two-hundred day moving average price is $213.11. The firm has a market capitalization of $20.75 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $245.16.

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 the consensus estimate 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 quarter in the prior year, the firm posted $3.32 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s payout ratio is currently 57.89%.

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.