KLP Kapitalforvaltning AS Has $8.88 Million Position in SBA Communications Corporation $SBAC

KLP Kapitalforvaltning AS trimmed its position in SBA Communications Corporation (NASDAQ:SBAC) by 1.6% during the second quarter, HoldingsChannel.com reports. The fund owned 37,796 shares of the technology company’s stock after selling 600 shares during the period. KLP Kapitalforvaltning AS’s holdings in SBA Communications were worth $8,876,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new stake in SBA Communications in the second quarter valued at approximately $203,000. Checchi Capital Advisers LLC grew its holdings in shares of SBA Communications by 29.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,320 shares of the technology company’s stock valued at $545,000 after buying an additional 521 shares during the period. QRG Capital Management Inc. increased its position in shares of SBA Communications by 19.0% in the 2nd quarter. QRG Capital Management Inc. now owns 9,034 shares of the technology company’s stock valued at $2,121,000 after buying an additional 1,445 shares in the last quarter. Vanderbilt University raised its stake in SBA Communications by 51.2% during the 2nd quarter. Vanderbilt University now owns 11,199 shares of the technology company’s stock worth $2,630,000 after buying an additional 3,790 shares during the period. Finally, Hilltop National Bank bought a new position in SBA Communications during the second quarter worth about $142,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 0.1%

Shares of SBAC stock opened at $187.49 on Friday. The firm’s fifty day moving average price is $205.32 and its two-hundred day moving average price is $220.74. SBA Communications Corporation has a 1 year low of $186.51 and a 1 year high of $252.64. The firm has a market capitalization of $20.13 billion, a P/E ratio of 23.82, a PEG ratio of 1.77 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period in the prior year, the business posted $3.29 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group raised their price target on SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group dropped their target price on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Scotiabank assumed coverage on shares of SBA Communications in a report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.07.

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.