5,382 Shares in SBA Communications Corporation $SBAC Bought by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC has acquired a new position in SBA Communications Corporation, purchasing 5,382 shares valued at approximately $1.26 million during the second quarter.
• SBA Communications recently reported a quarterly EPS of $3.17, exceeding estimates, with revenue of $698.98 million, marking a 5.8% increase year-over-year.
• The company declared a quarterly dividend of $1.11, resulting in an annualized yield of 2.3% and a payout ratio of 56.42%.

Park Avenue Securities LLC bought a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,382 shares of the technology company's stock, valued at approximately $1,264,000.

A number of 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 worth $1,314,265,000 after buying an additional 1,715,541 shares during the last quarter. Dodge & Cox increased its holdings in SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after buying an additional 1,139,009 shares during the last quarter. Nuveen LLC acquired a new position in SBA Communications during the first quarter worth $152,973,000. GAMMA Investing LLC increased its holdings in SBA Communications by 30,393.6% during the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after buying an additional 369,282 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in SBA Communications by 394.0% during 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 buying an additional 320,819 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBAC stock opened at $195.43 on Friday. The company's 50-day simple moving average is $213.51 and its 200 day simple moving average is $222.70. SBA Communications Corporation has a 52 week low of $186.81 and a 52 week high of $252.64. The company has a market capitalization of $20.99 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.85 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate 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 business had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same period in the prior year, the company posted $3.29 earnings per share. SBA Communications's revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were paid a $1.11 dividend. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications's dividend payout ratio is 56.42%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a "strong-buy" rating in a report on Tuesday, August 5th. Barclays decreased their price objective on shares of SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. Finally, KeyCorp decreased their price objective on shares of SBA Communications from $280.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $252.57.

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.

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