Aprio Wealth Management LLC Invests $339,000 in SBA Communications Corporation $SBAC

Key Points

• Aprio Wealth Management LLC has acquired 1,539 shares of SBA Communications Corporation, valued at approximately $339,000, in the first quarter of the year.
• Institutional investors now hold 97.35% of SBA Communications' stock, indicating strong backing from institutional investors.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $256.38.

Aprio Wealth Management LLC bought a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,539 shares of the technology company's stock, valued at approximately $339,000.

Other institutional investors have also recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new position in shares of SBA Communications during the first quarter worth $28,000. Stone House Investment Management LLC purchased a new position in shares of SBA Communications during the first quarter worth $33,000. Allworth Financial LP raised its holdings in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after purchasing an additional 62 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after purchasing an additional 189 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of SBA Communications during the first quarter worth $47,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SBAC. Barclays raised their target price on shares of SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Bank of America cut shares of SBA Communications from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Morgan Stanley lifted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Finally, Scotiabank started coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, SBA Communications has an average rating of "Moderate Buy" and an average target price of $256.38.

SBA Communications Stock Performance

Shares of SBAC stock traded up $1.33 on Wednesday, reaching $192.80. 183,828 shares of the company were exchanged, compared to its average volume of 902,077. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.82 and a beta of 0.80. The business has a 50-day moving average price of $222.02 and a 200 day moving average price of $224.50. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results 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 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 company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications's payout ratio is currently 56.42%.

About SBA Communications

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.