Aberdeen Group plc Purchases 7,184 Shares of SBA Communications Corporation $SBAC

Aberdeen Group plc grew its position in SBA Communications Corporation (NASDAQ:SBAC) by 4.7% in the second quarter, HoldingsChannel.com reports. The fund owned 159,511 shares of the technology company’s stock after buying an additional 7,184 shares during the period. Aberdeen Group plc’s holdings in SBA Communications were worth $37,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SBAC. NorthCrest Asset Manangement LLC lifted its position in SBA Communications by 3.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after acquiring an additional 44 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock valued at $55,000 after buying an additional 45 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock valued at $1,440,000 after buying an additional 46 shares in the last quarter. Advisors Asset Management Inc. raised its position 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 valued at $194,000 after buying an additional 47 shares in the last quarter. Finally, Oakworth Capital Inc. raised its position in shares of SBA Communications by 25.8% in the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company’s stock valued at $64,000 after buying an additional 60 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of SBA Communications in a research report on Saturday, September 27th. Royal Bank Of Canada dropped their price target on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Barclays dropped their price target on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Finally, Morgan Stanley boosted 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 report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $249.07.

SBA Communications Trading Up 0.9%

Shares of SBAC opened at $189.10 on Monday. The stock has a market capitalization of $20.31 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. The firm’s fifty day simple moving average is $204.53 and its two-hundred day simple moving average is $220.64. SBA Communications Corporation has a 12 month low of $185.70 and a 12 month high of $252.64.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio is currently 56.42%.

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.