AG2R LA Mondiale Gestion D Actifs Acquires New Stake in SBA Communications Corporation $SBAC

Key Points

• AG2R LA Mondiale Gestion D Actifs has invested approximately $1.38 million in SBA Communications Corporation, acquiring 5,949 shares in the first quarter.
• SBA Communications recently reported earnings of $3.17 per share, beating analysts' expectations and generating revenue of $698.98 million.
• The company announced a quarterly dividend of $1.11 per share with a yield of 2.2%, reflecting a dividend payout ratio of 56.42%.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,949 shares of the technology company's stock, valued at approximately $1,380,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $33,000. Allworth Financial LP increased its position in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after buying an additional 62 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after acquiring an additional 189 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $0.08 during trading hours on Thursday, hitting $199.46. The company's stock had a trading volume of 309,692 shares, compared to its average volume of 923,737. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The firm has a fifty day moving average of $217.61 and a 200-day moving average of $223.68. The stock has a market cap of $21.42 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.88 and a beta of 0.80.

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

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 21st. SBA Communications's payout ratio is currently 56.42%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank assumed coverage on SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. KeyCorp lowered their price target on SBA Communications from $280.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday. Wells Fargo & Company lifted their price target on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. UBS Group lifted their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America lowered SBA Communications from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $251.63.

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.