Wedmont Private Capital Buys Shares of 1,182 SBA Communications Corporation $SBAC

Wedmont Private Capital bought a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,182 shares of the technology company’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. JPMorgan Chase & Co. increased its holdings in SBA Communications by 40.3% during the first 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 during the last quarter. Dodge & Cox increased its stake in shares of SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock worth $1,866,843,000 after purchasing an additional 1,139,009 shares in the last quarter. Nuveen LLC purchased a new stake in shares of SBA Communications in the first quarter worth $152,973,000. GAMMA Investing LLC increased its stake in shares of SBA Communications by 30,393.6% in the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company’s stock worth $81,513,000 after purchasing an additional 369,282 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of SBA Communications by 394.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company’s stock worth $88,497,000 after purchasing an additional 320,819 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.1%

SBA Communications stock opened at $199.10 on Monday. The firm has a 50-day moving average price of $216.34 and a 200-day moving average price of $223.44. The firm has a market capitalization of $21.38 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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 company had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter last year, the business posted $3.29 EPS. The firm’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. As a group, sell-side analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBAC. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a “strong-buy” rating in a research note on Tuesday, August 5th. Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price for the company. Wells Fargo & Company lifted 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. UBS Group boosted their price target 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, Morgan Stanley boosted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $251.63.

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.