Garrison Point Advisors LLC Makes New $211,000 Investment in SBA Communications Corporation $SBAC

Garrison Point Advisors LLC acquired a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 900 shares of the technology company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in SBA Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock valued at $3,886,844,000 after purchasing an additional 268,018 shares in the last quarter. Dodge & Cox increased its position in shares of SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SBA Communications by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after buying an additional 1,715,541 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in SBA Communications by 7.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock worth $439,310,000 after buying an additional 135,682 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in SBA Communications by 11.5% in the first quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock worth $436,969,000 after buying an additional 204,902 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 1.4%

NASDAQ:SBAC opened at $197.40 on Friday. The firm has a market capitalization of $21.20 billion, a P/E ratio of 25.08, 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 $217.18. SBA Communications Corporation has a 52 week low of $185.45 and a 52 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 analysts’ consensus estimates of $3.21 by $0.09. The firm had revenue of $732.33 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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 declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. SBA Communications’s dividend payout ratio is presently 57.89%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent research reports. Morgan Stanley reduced 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 report on Thursday, October 16th. Bank of America lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Barclays decreased their target price on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Cowen restated a “buy” rating on shares of SBA Communications in a research report on Tuesday. Finally, Royal Bank Of Canada reduced their price objective on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $238.69.

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.