Assetmark Inc. Has $281,000 Position in SBA Communications Corporation $SBAC

Assetmark Inc. boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 66.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,197 shares of the technology company’s stock after acquiring an additional 480 shares during the quarter. Assetmark Inc.’s holdings in SBA Communications were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Avanza Fonder AB lifted its holdings in SBA Communications by 37.3% during the second quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock worth $2,063,000 after acquiring an additional 2,386 shares in the last quarter. Jump Financial LLC increased its position in shares of SBA Communications by 111.1% in the first quarter. Jump Financial LLC now owns 2,920 shares of the technology company’s stock valued at $642,000 after acquiring an additional 1,537 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of SBA Communications in the 2nd quarter valued at approximately $453,000. XTX Topco Ltd bought a new stake in shares of SBA Communications in the 1st quarter valued at about $2,865,000. Finally, Circle Wealth Management LLC lifted its position in shares of SBA Communications by 75.8% in the first quarter. Circle Wealth Management LLC now owns 5,785 shares of the technology company’s stock valued at $1,273,000 after buying an additional 2,494 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $197.40 on Friday. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $245.16. The business has a 50 day simple moving average of $195.08 and a two-hundred day simple moving average of $217.18. The stock has a market capitalization of $21.20 billion, a PE ratio of 25.08, a P/E/G ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. During the same period last year, the company posted $3.32 EPS. The business’s revenue was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be issued a dividend of $1.11 per share. 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 is presently 57.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. TD Cowen reduced their price objective on SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group reduced their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. BMO Capital Markets cut their price objective on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday. 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. Finally, Wells Fargo & Company cut their price target on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $238.69.

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.