SBA Communications Corporation $SBAC Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in SBA Communications Corporation by 420.8% in the first quarter, now holding 1,729 shares valued at approximately $380,000.
• SBA Communications reported earnings of $3.17 per share for the recent quarter, surpassing analysts' expectations of $3.10, with a revenue of about $698.98 million.
• The company declared a quarterly dividend of $1.11, with an ex-dividend date of August 21, representing an annualized yield of 2.3%.

Bayforest Capital Ltd lifted its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 420.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,729 shares of the technology company's stock after purchasing an additional 1,397 shares during the period. Bayforest Capital Ltd's holdings in SBA Communications were worth $380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Baird Financial Group Inc. raised its position in shares of SBA Communications by 25.2% during the fourth quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock valued at $498,000 after buying an additional 492 shares during the last quarter. Captrust Financial Advisors grew its stake in SBA Communications by 56.0% during the fourth quarter. Captrust Financial Advisors now owns 6,738 shares of the technology company's stock worth $1,373,000 after buying an additional 2,420 shares during the last quarter. Ethic Inc. grew its stake in SBA Communications by 29.1% during the fourth quarter. Ethic Inc. now owns 6,271 shares of the technology company's stock worth $1,278,000 after buying an additional 1,414 shares during the last quarter. Focus Partners Wealth bought a new stake in SBA Communications during the fourth quarter worth about $605,000. Finally, Janus Henderson Group PLC grew its stake in shares of SBA Communications by 5.6% during the fourth quarter. Janus Henderson Group PLC now owns 182,792 shares of the technology company's stock valued at $37,260,000 after purchasing an additional 9,688 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analysts Set New Price Targets

SBAC has been the topic of several research analyst reports. Barclays decreased their price target on shares of SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research note on Monday. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a "strong-buy" rating in a research note on Tuesday, August 5th. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Bank of America lowered shares of 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 report on Wednesday, August 27th. Finally, UBS Group increased their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, SBA Communications has an average rating of "Moderate Buy" and an average price target of $254.44.

SBA Communications Trading Up 0.2%

Shares of SBAC stock traded up $0.48 during trading hours on Tuesday, reaching $198.53. The stock had a trading volume of 162,723 shares, compared to its average volume of 915,138. The stock's fifty day simple moving average is $219.01 and its 200 day simple moving average is $224.02. The firm has a market capitalization of $21.32 billion, a PE ratio of 25.29, a PEG ratio of 1.89 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.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million for 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 business's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

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.