Aberdeen Group plc Buys 7,184 Shares of SBA Communications Corporation $SBAC

Key Points

• Aberdeen Group plc increased its stake in SBA Communications Corporation by 4.7%, acquiring an additional 7,184 shares, bringing their total to 159,511 shares valued at approximately $37.46 million.
• Analyst ratings for SBA Communications show an overall average rating of Moderate Buy with a consensus price target of $249.07, reflecting a range of ratings from "Strong Buy" to "Neutral" from various firms.
• SBA Communications recently declared a quarterly dividend of $1.11 per share, representing an annualized yield of 2.3% and a dividend payout ratio of 56.42%.

Aberdeen Group plc boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,511 shares of the technology company's stock after acquiring an additional 7,184 shares during the quarter. Aberdeen Group plc owned approximately 0.15% of SBA Communications worth $37,460,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SBAC. Stone House Investment Management LLC acquired a new position in SBA Communications during the 1st quarter valued at about $33,000. Allworth Financial LP lifted its position in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the period. Geneos Wealth Management Inc. lifted its position 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. Zions Bancorporation National Association UT acquired a new position in SBA Communications during the 1st quarter valued at about $47,000. Finally, Summit Securities Group LLC acquired a new position in SBA Communications during the 1st quarter valued at about $47,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on SBAC shares. Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price on the stock. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley increased 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. The Goldman Sachs Group cut their price target on shares of SBA Communications from $250.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. Finally, Barclays cut their price target on shares of SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $249.07.

SBA Communications Stock Performance

NASDAQ SBAC opened at $189.10 on Monday. The business has a 50 day simple moving average of $204.53 and a 200 day simple moving average of $220.64. SBA Communications Corporation has a 52-week low of $185.70 and a 52-week high of $252.64. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.99 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts predict 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. Stockholders of record on Thursday, August 21st were paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) is currently 56.42%.

SBA Communications Company 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.

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