Swedbank AB reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 0.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 79,098 shares of the technology company’s stock after selling 204 shares during the quarter. Swedbank AB’s holdings in SBA Communications were worth $17,402,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in SBA Communications during the first quarter worth $28,000. Stone House Investment Management LLC bought a new position in SBA Communications during the first quarter worth $33,000. Allworth Financial LP raised its stake in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after buying an additional 62 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after buying an additional 189 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Bank of America downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Morgan Stanley lifted their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on shares of SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. UBS Group increased their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Barclays increased their target price on shares of SBA Communications from $247.00 to $257.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.38.
Read Our Latest Report on SBAC
SBA Communications Price Performance
Shares of SBAC stock opened at $199.97 on Monday. The firm has a 50-day moving average of $219.72 and a 200-day moving average of $224.16. The company has a market cap of $21.47 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.89 and a beta of 0.80. SBA Communications Corporation has a one year low of $186.81 and a one year high of $252.64.
SBA Communications (NASDAQ:SBAC – Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.
SBA Communications Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. SBA Communications’s dividend payout ratio is currently 56.42%.
SBA Communications Company 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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