Asset Management One Co. Ltd. Raises Position in SBA Communications Corporation $SBAC

Asset Management One Co. Ltd. boosted its position in SBA Communications Corporation (NASDAQ:SBAC) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,321 shares of the technology company’s stock after acquiring an additional 348 shares during the period. Asset Management One Co. Ltd.’s holdings in SBA Communications were worth $10,643,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in SBA Communications in the 1st quarter worth $33,000. Allworth Financial LP grew its holdings in SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after acquiring an additional 62 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Summit Securities Group LLC bought a new stake in SBA Communications in the 1st quarter worth $47,000. Finally, Zions Bancorporation National Association UT bought a new stake in SBA Communications in the 1st quarter worth $47,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBAC shares. Scotiabank started coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price target on the stock. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the stock a “strong-buy” rating in a report on Tuesday, August 5th. Royal Bank Of Canada cut their target price on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company cut their target price on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Finally, KeyCorp cut their target price on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.40.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $198.68 on Monday. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $247.04. The company has a 50 day simple moving average of $199.49 and a two-hundred day simple moving average of $219.13. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.09 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating 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 business had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same quarter last year, the firm earned $3.29 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

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.