SBA Communications Corporation $SBAC Stake Increased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in SBA Communications by 13.4%, acquiring an additional 18,113 shares during the first quarter, totaling 153,109 shares valued at approximately $33.68 million.
• A recent analyst report saw Deutsche Bank downgrade SBA Communications from a "buy" to a "hold" rating, while other analysts set target prices ranging from $230.00 to $285.00, indicating a mixed outlook for the stock.
• SBA Communications declared a quarterly dividend of $1.11 per share, which will be paid on September 18th, reflecting an annualized dividend of $4.44 and a 2.2% dividend yield.

Alliancebernstein L.P. grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,109 shares of the technology company's stock after purchasing an additional 18,113 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of SBA Communications worth $33,686,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new position in shares of SBA Communications during the first quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new position in SBA Communications in the 1st quarter worth approximately $33,000. Allworth Financial LP grew its holdings in SBA Communications by 62.0% in the 1st 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 holdings in SBA Communications by 1,575.0% in the 1st 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, Summit Securities Group LLC bought a new position in SBA Communications in the 1st quarter worth approximately $47,000. 97.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBAC shares. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Scotiabank started coverage on 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. Bank of America lowered SBA Communications from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company increased their price target on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $256.38.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded up $0.53 on Friday, reaching $199.97. 1,334,433 shares of the company traded hands, compared to its average volume of 1,260,291. SBA Communications Corporation has a fifty-two week low of $186.81 and a fifty-two week high of $252.64. The company's 50 day moving average is $219.72 and its 200-day moving average is $224.12. The stock has a market capitalization of $21.47 billion, a PE ratio of 25.41, a P/E/G ratio of 1.89 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $3.29 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio is 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.