Ausbil Investment Management Ltd Invests $3.64 Million in SBA Communications Corporation $SBAC

Key Points

• Ausbil Investment Management Ltd invested approximately $3.64 million in SBA Communications Corporation, acquiring 15,483 shares, which represent about 2.1% of Ausbil's total portfolio.
• SBA Communications reported **better-than-expected earnings**, with earnings per share (EPS) of $3.17, surpassing analyst estimates by $0.07, and **revenue increased 5.8%** year-over-year to approximately $698.98 million.
• The company has announced a **quarterly dividend of $1.11** per share, resulting in an annualized yield of 2.3%, with a payout ratio of 56.42%.

Ausbil Investment Management Ltd bought a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,483 shares of the technology company's stock, valued at approximately $3,636,000. SBA Communications accounts for approximately 2.1% of Ausbil Investment Management Ltd's portfolio, making the stock its 23rd biggest position.

Several other institutional investors have also recently made changes to their positions in the stock. Independence Bank of Kentucky purchased a new stake in shares of SBA Communications during the first quarter worth about $28,000. Stone House Investment Management LLC bought a new stake in shares of SBA Communications in the 1st quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% during the 1st 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. lifted its stake in shares of SBA Communications by 1,575.0% during the 1st 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. Institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 0.6%

Shares of NASDAQ SBAC opened at $194.22 on Friday. The stock has a market cap of $20.86 billion, a P/E ratio of 24.68, a PEG ratio of 1.84 and a beta of 0.80. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64. The business's fifty day simple moving average is $212.71 and its 200-day simple moving average is $222.56.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced 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. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. During the same period last year, the firm earned $3.29 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, equities analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications's payout ratio is currently 56.42%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBAC shares. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price for the company. Morgan Stanley boosted their price target on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the company a "strong-buy" rating in a report on Tuesday, August 5th. Barclays reduced their price target on SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a report on Monday, September 15th. Finally, KeyCorp reduced their price target on SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.57.

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.

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