SBA Communications Corporation $SBAC Shares Purchased by Czech National Bank

Czech National Bank grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,265 shares of the technology company’s stock after buying an additional 1,585 shares during the quarter. Czech National Bank’s holdings in SBA Communications were worth $6,168,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBAC. Independence Bank of Kentucky acquired a new position in shares of SBA Communications during the first quarter worth $28,000. Stone House Investment Management LLC acquired a new stake in SBA Communications in the first quarter valued at $33,000. Allworth Financial LP raised its holdings in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in SBA Communications by 105.0% in the first 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, NBC Securities Inc. raised its holdings in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after acquiring an additional 189 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Down 0.3%

SBAC opened at $198.82 on Friday. SBA Communications Corporation has a 1-year low of $186.81 and a 1-year high of $252.64. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 1.88 and a beta of 0.80. The business has a 50 day moving average of $216.93 and a 200-day moving average of $223.53.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share 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 analysts’ expectations of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.SBA Communications’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were paid a $1.11 dividend. The ex-dividend date 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 56.42%.

Analysts Set New Price Targets

SBAC has been the topic of several recent analyst reports. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and cut their price target for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Wells Fargo & Company upped their price target on shares of SBA Communications from $225.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Scotiabank initiated 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. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a “market outperform” rating in a research note on Tuesday, August 5th. Finally, Citigroup reiterated an “outperform” rating on shares of SBA Communications in a research note on Tuesday, August 5th. Two equities 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, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $251.63.

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.