SBA Communications Corporation $SBAC Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in SBA Communications Corporation by 240% during the first quarter, owning 8,928 shares valued at approximately $1.95 million.
• SBA Communications reported $3.17 EPS for the latest quarter, exceeding estimates, with revenue rising 5.8% year-over-year to $698.98 million.
• The company announced a quarterly dividend of $1.11 per share, set to be paid on September 18th, reflecting a 2.0% dividend yield.

Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 240.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,928 shares of the technology company's stock after purchasing an additional 6,302 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in SBA Communications were worth $1,951,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SBAC. Mariner LLC grew its holdings in SBA Communications by 17.6% in the 4th quarter. Mariner LLC now owns 6,118 shares of the technology company's stock valued at $1,247,000 after buying an additional 917 shares in the last quarter. NewEdge Advisors LLC grew its holdings in SBA Communications by 23.9% in the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after buying an additional 246 shares in the last quarter. First Trust Advisors LP grew its holdings in SBA Communications by 113.8% in the 4th quarter. First Trust Advisors LP now owns 82,442 shares of the technology company's stock valued at $16,802,000 after buying an additional 43,885 shares in the last quarter. MetLife Investment Management LLC grew its holdings in SBA Communications by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 28,453 shares of the technology company's stock valued at $5,799,000 after buying an additional 511 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in SBA Communications by 15.6% in the 4th quarter. MML Investors Services LLC now owns 9,277 shares of the technology company's stock valued at $1,891,000 after buying an additional 1,249 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

SBAC stock traded up $1.98 during mid-day trading on Friday, reaching $222.87. The company had a trading volume of 513,463 shares, compared to its average volume of 860,258. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.05 and a beta of 0.77. The firm has a fifty day simple moving average of $228.85 and a 200 day simple moving average of $224.85. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64.

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

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. SBA Communications's dividend payout ratio (DPR) is currently 56.42%.

Analyst Ratings Changes

Several analysts have issued reports on SBAC shares. Citigroup restated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Raymond James Financial set a $265.00 price target on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday, August 5th. Wells Fargo & Company increased their price target on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. UBS Group increased their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, BMO Capital Markets increased their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.25.

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.