Apollon Wealth Management LLC Buys Shares of 1,393 SBA Communications Corporation $SBAC

Key Points

• Apollon Wealth Management LLC has acquired 1,393 shares of SBA Communications Corporation, valued at approximately $327,000, as part of its new investment in the technology company.
• Analyst ratings for SBA Communications have varied, with Bank of America downgrading the stock from "buy" to "neutral" and several brokerages adjusting price targets, resulting in an average consensus target price of $243.73.
• SBA Communications recently announced a quarterly dividend of $1.11 per share, representing a 2.3% yield, with a payout ratio of 56.42% of earnings.

Apollon Wealth Management LLC acquired a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,393 shares of the technology company's stock, valued at approximately $327,000.

A number of other institutional investors have also made changes to their positions in SBAC. Stone House Investment Management LLC acquired a new stake in shares of SBA Communications in the 1st quarter valued at approximately $33,000. Allworth Financial LP increased its stake in 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 purchasing an additional 62 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% in the first 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 in the last quarter. Zions Bancorporation National Association UT bought a new stake in SBA Communications in the first quarter valued at approximately $47,000. Finally, Summit Securities Group LLC bought a new stake in SBA Communications in the first quarter valued at approximately $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBAC. Bank of America lowered shares of 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 report on Wednesday, August 27th. Barclays dropped their price target on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. JMP Securities set a $280.00 price target on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. UBS Group lowered their target price on SBA Communications from $285.00 to $275.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of SBA Communications from $250.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, October 1st. 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 stock. Based on data from MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $243.73.

SBA Communications Stock Down 0.6%

NASDAQ:SBAC opened at $196.26 on Friday. SBA Communications Corporation has a twelve month low of $185.45 and a twelve month high of $248.89. The business has a 50 day moving average price of $201.61 and a two-hundred day moving average price of $219.73. The company has a market cap of $21.07 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.

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, topping analysts' consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

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

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.

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