Banque Transatlantique SA Purchases New Stake in SBA Communications Corporation $SBAC

Key Points

• Banque Transatlantique SA has acquired a new stake in SBA Communications Corporation during the first quarter, purchasing 1,830 shares valued at approximately $372,000.
• SBA Communications reported earnings per share (EPS) of $3.17 for the last quarter, exceeding analyst expectations, while also experiencing a 5.8% year-over-year revenue growth.
• The company declared a quarterly dividend of $1.11 per share, with a dividend yield of 2.2%, set to be paid on September 18th.

Banque Transatlantique SA purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,830 shares of the technology company's stock, valued at approximately $372,000.

Several other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its position in SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares in the last quarter. Advisors Asset Management Inc. raised its position in SBA Communications by 5.6% in the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock valued at $194,000 after purchasing an additional 47 shares in the last quarter. Central Pacific Bank Trust Division raised its position in SBA Communications by 2.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after purchasing an additional 50 shares in the last quarter. Oakworth Capital Inc. raised its position in SBA Communications by 25.8% in the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its position in SBA Communications by 6.0% in the 1st quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock valued at $242,000 after purchasing an additional 62 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC stock traded up $2.57 during midday trading on Friday, hitting $197.74. The company had a trading volume of 1,863,233 shares, compared to its average volume of 955,243. The company's 50 day simple moving average is $223.83 and its 200 day simple moving average is $224.78. SBA Communications Corporation has a 52-week low of $192.55 and a 52-week high of $252.64. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.88 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share 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 company had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same period last year, the business posted $3.29 EPS. The company's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be paid a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. SBA Communications's payout ratio is 56.42%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of analyst reports. Barclays increased their price target on SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Citigroup reissued an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Scotiabank initiated coverage on SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price on the stock. Finally, Bank of America lowered SBA Communications from a "buy" rating to a "neutral" rating and cut their target price for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.38.

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.