Callan Family Office LLC Has $6.45 Million Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• Callan Family Office LLC significantly increased its holdings in SBA Communications Corporation by 238.5%, acquiring 19,360 additional shares, bringing their total to 27,477 shares valued at $6.45 million.
• Wall Street analysts have lowered their price targets for SBA Communications, with estimates ranging from $220.00 to $249.07, while the stock currently has a consensus rating of "Moderate Buy".
• SBA Communications recently declared a quarterly dividend of $1.11, with an annualized yield of 2.4%, and a payout ratio of 56.42%.

Callan Family Office LLC boosted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 238.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 27,477 shares of the technology company's stock after acquiring an additional 19,360 shares during the period. Callan Family Office LLC's holdings in SBA Communications were worth $6,453,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SBAC. Stone House Investment Management LLC acquired a new stake in SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP grew its holdings in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after acquiring an additional 62 shares during the period. Geneos Wealth Management Inc. grew its holdings in 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 period. NBC Securities Inc. grew its holdings in 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 period. Finally, Zions Bancorporation National Association UT acquired a new stake in SBA Communications during the 1st quarter worth $47,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBAC. KeyCorp lowered their target price on shares of SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Royal Bank Of Canada reduced their price target on shares of SBA Communications from $255.00 to $235.00 and set an "outperform" rating on the stock in a research report on Thursday, October 2nd. The Goldman Sachs Group reduced their price target on shares of SBA Communications from $250.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. Barclays reduced 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 report on Monday, September 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of SBA Communications in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $249.07.

SBA Communications Trading Down 0.1%

SBAC opened at $187.49 on Friday. The stock has a market capitalization of $20.13 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.77 and a beta of 0.82. SBA Communications Corporation has a 12 month low of $186.51 and a 12 month high of $252.64. The firm's fifty day simple moving average is $205.32 and its 200 day simple moving average is $220.74.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. The business 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 firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, equities research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications's payout ratio is currently 56.42%.

SBA Communications 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.

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