Financial Advisors Network Inc. Purchases New Holdings in SBA Communications Corporation $SBAC

Key Points

• Financial Advisors Network Inc. acquired 11,642 shares of SBA Communications Corporation, valued at about $2.56 million, during the first quarter.
• SBA Communications reported a quarterly EPS of $3.17, exceeding analysts' expectations, alongside a revenue of $698.98 million for the quarter.
• The company announced a quarterly dividend of $1.11 per share, with a dividend yield of 2.0%, to be paid on September 18th.

Financial Advisors Network Inc. purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,642 shares of the technology company's stock, valued at approximately $2,561,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications in the first quarter valued at about $28,000. Stone House Investment Management LLC acquired a new stake in SBA Communications during the first quarter worth about $33,000. Allworth Financial LP grew its position in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares in the last quarter. NBC Securities Inc. grew its position in SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in SBA Communications during the first quarter worth about $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 0.9%

SBAC traded up $1.98 during midday trading on Friday, reaching $222.87. 513,463 shares of the company's stock were exchanged, compared to its average volume of 858,004. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.77. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The business has a 50-day simple moving average of $228.95 and a two-hundred day simple moving average of $224.52.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping 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 firm had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. During the same quarter last year, the company earned $3.29 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.0%. SBA Communications's payout ratio is 56.42%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. JMP Securities set a $280.00 target price on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley lifted their target price on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. UBS Group lifted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Scotiabank started coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and an average price target of $258.25.

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.