Lasalle Investment Management Securities LLC Decreases Holdings in SBA Communications Corporation $SBAC

Lasalle Investment Management Securities LLC reduced its stake in SBA Communications by 24.3% in Q2, owning 11,236 shares valued at $2.64 million. Other institutional investors adjusted their positions as well. SBA Communications reported Q3 earnings of $3.30 per share, beating estimates, with revenue up 9.7% year-over-year. The company announced a quarterly dividend of $1.11. Analysts have varied ratings, with target prices ranging from $219 to $265.

Lasalle Investment Management Securities LLC decreased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 24.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,236 shares of the technology company's stock after selling 3,600 shares during the quarter. Lasalle Investment Management Securities LLC's holdings in SBA Communications were worth $2,639,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC boosted its position in shares of SBA Communications by 3.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company's stock valued at $359,000 after acquiring an additional 44 shares during the period. Janney Montgomery Scott LLC grew its position in shares of SBA Communications by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company's stock valued at $1,440,000 after purchasing an additional 46 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of SBA Communications by 5.6% in the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock worth $194,000 after purchasing an additional 47 shares during the period. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 20.0% in the second quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company's stock worth $70,000 after buying an additional 50 shares in the last quarter. Finally, MAI Capital Management boosted its stake in SBA Communications by 7.9% during the second quarter. MAI Capital Management now owns 680 shares of the technology company's stock valued at $160,000 after buying an additional 50 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

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SBA Communications Stock Down 0.1%

NASDAQ:SBAC opened at $195.02 on Monday. The firm has a market capitalization of $20.78 billion, a P/E ratio of 24.78, a P/E/G ratio of 2.01 and a beta of 0.80. The company has a fifty day moving average of $195.08 and a 200 day moving average of $214.34. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $245.16.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.21 by $0.09. The firm had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

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

Wall Street Analyst Weigh In

SBAC has been the subject of several research reports. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. KeyCorp dropped their target price on SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Morgan Stanley decreased their price target on shares of SBA Communications from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 16th. Barclays cut their price objective on shares of SBA Communications from $226.00 to $219.00 and set an "overweight" rating for the company in a research note on Monday, November 17th. Finally, TD Cowen decreased their target price on shares of SBA Communications from $249.00 to $237.00 and set a "buy" rating on the stock in a research report on Tuesday, November 4th. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.06.

View Our Latest Research Report on SBA Communications

SBA Communications Profile

(Free Report)

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.

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