Cetera Investment Advisers Purchases 545 Shares of SBA Communications Corporation $SBAC

Cetera Investment Advisers lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 7.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,335 shares of the technology company’s stock after buying an additional 545 shares during the quarter. Cetera Investment Advisers’ holdings in SBA Communications were worth $1,957,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CVA Family Office LLC lifted its position in shares of SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications during the first quarter worth about $33,000. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the period. Summit Securities Group LLC bought a new position in SBA Communications in the 1st quarter worth approximately $47,000. Finally, Zions Bancorporation National Association UT purchased a new stake in SBA Communications during the 1st quarter valued at approximately $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. Royal Bank Of Canada lowered their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. KeyCorp decreased their price target on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Barclays dropped their price objective on shares of SBA Communications from $226.00 to $219.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Cowen reaffirmed a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Wells Fargo & Company dropped their price target on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $238.06.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $194.76 on Friday. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The firm has a 50-day simple moving average of $194.60 and a two-hundred day simple moving average of $213.11. The company has a market cap of $20.75 billion, a P/E ratio of 24.75, a PEG ratio of 2.01 and a beta of 0.80.

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

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio is presently 57.89%.

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.