ProShare Advisors LLC Has $7.18 Million Holdings in SBA Communications Corporation $SBAC

ProShare Advisors LLC raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,584 shares of the technology company’s stock after acquiring an additional 2,836 shares during the quarter. ProShare Advisors LLC’s holdings in SBA Communications were worth $7,182,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SBAC. CVA Family Office LLC grew its position in SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in SBA Communications in the 1st quarter worth approximately $33,000. Allworth Financial LP boosted its stake in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of SBA Communications in the first quarter worth $47,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

SBAC opened at $201.63 on Thursday. The business has a 50 day moving average price of $195.03 and a 200 day moving average price of $216.63. SBA Communications Corporation has a twelve month low of $185.45 and a twelve month high of $245.16. The firm has a market cap of $21.65 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is 57.89%.

Analyst Ratings Changes

SBAC has been the subject of a number of research reports. Williams Trading set a $237.00 price objective on SBA Communications in a research report on Tuesday, November 4th. Raymond James Financial set a $265.00 price target on SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. UBS Group lowered their price target on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Citigroup dropped their price objective on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Finally, Bank of America cut 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 research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $238.50.

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.