Aberdeen Group plc Buys 7,716 Shares of SBA Communications Corporation $SBAC

Key Points

• Aberdeen Group plc increased its stake in SBA Communications by 5.3%, owning approximately 152,327 shares valued at $33.21 million after acquiring an additional 7,716 shares in the first quarter.
• SBA Communications reported $3.17 EPS for the last quarter, exceeding estimates, with revenues of $698.98 million, up 5.8% year-over-year.
• The company declared a quarterly dividend of $1.11 per share, with a dividend yield of 2.0%, payable on September 18th for stockholders on record as of August 21st.

Aberdeen Group plc grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,327 shares of the technology company's stock after purchasing an additional 7,716 shares during the period. Aberdeen Group plc owned approximately 0.14% of SBA Communications worth $33,210,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after purchasing an additional 50 shares during the period. DoubleLine ETF Adviser LP boosted its stake in SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after buying an additional 57 shares in the last quarter. Oakworth Capital Inc. boosted its stake in SBA Communications by 25.8% during the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after buying an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC boosted its stake in SBA Communications by 6.0% during the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock valued at $242,000 after buying an additional 62 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 2.4%

Shares of SBAC traded up $5.11 during midday trading on Tuesday, reaching $220.26. 743,141 shares of the stock were exchanged, compared to its average volume of 890,804. SBA Communications Corporation has a 12-month low of $192.55 and a 12-month high of $252.64. The firm has a 50 day simple moving average of $229.12 and a 200-day simple moving average of $224.37. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.98 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period last year, the business earned $3.29 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on SBAC. JMP Securities set a $280.00 price target on SBA Communications and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. UBS Group increased their price target on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their price target on SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. BMO Capital Markets increased their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Finally, Bank of America began coverage on SBA Communications in a research report on Monday, May 19th. They issued a "buy" rating and a $260.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.