HB Wealth Management LLC Grows Position in SBA Communications Corporation $SBAC

HB Wealth Management LLC increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,190 shares of the technology company’s stock after buying an additional 406 shares during the period. HB Wealth Management LLC’s holdings in SBA Communications were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in SBAC. JPMorgan Chase & Co. raised its stake in SBA Communications by 40.3% in 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 purchasing an additional 1,715,541 shares during the last quarter. Dodge & Cox boosted its holdings in 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 acquiring an additional 1,139,009 shares during the period. Nuveen LLC purchased a new position in shares of SBA Communications in the 1st quarter valued at about $152,973,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of SBA Communications by 394.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company’s stock valued at $88,497,000 after buying an additional 320,819 shares during the period. Finally, Woodline Partners LP lifted its stake in SBA Communications by 1,069.4% during the first quarter. Woodline Partners LP now owns 326,673 shares of the technology company’s stock worth $71,871,000 after purchasing an additional 298,738 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SBAC shares. Morgan Stanley upped their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Scotiabank began coverage on SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 target price on the stock. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the company a “strong-buy” rating in a research report on Tuesday, August 5th. JMP Securities set a $280.00 price objective on SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Finally, Barclays lowered their target price on SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.07.

SBA Communications Stock Performance

Shares of SBAC stock opened at $192.09 on Monday. The stock has a market cap of $20.63 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. The business’s fifty day moving average is $208.42 and its 200-day moving average is $221.65. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million for 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%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders 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 dividend yield of 2.3%. SBA Communications’s payout ratio is currently 56.42%.

SBA Communications 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.