Commerzbank Aktiengesellschaft FI Buys Shares of 8,995 SBA Communications Corporation $SBAC

Key Points

• Commerzbank Aktiengesellschaft FI bought 8,995 shares of SBA Communications worth approximately $1.59 million, while institutional investors collectively own 97.35% of the company.
• SBA Communications exceeded quarterly expectations, reporting $1.87 in EPS and $715.27 million in revenue, up 2.3% year over year.
• The company declared a quarterly dividend of $1.25 per share, equivalent to a $5.00 annualized payout and a 2.7% yield; analysts maintain a generally cautious “Hold” consensus with an average price target of $228.12.

Commerzbank Aktiengesellschaft FI bought a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,995 shares of the technology company's stock, valued at approximately $1,587,000.

Several other institutional investors also recently modified their holdings of SBAC. Dodge & Cox boosted its holdings in shares of SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company's stock valued at $2,320,412,000 after acquiring an additional 2,328,837 shares in the last quarter. Norges Bank bought a new stake in SBA Communications during the 4th quarter worth $302,774,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in SBA Communications in the 2nd quarter worth about $228,367,000. Arrowstreet Capital Limited Partnership increased its holdings in SBA Communications by 256.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company's stock worth $211,344,000 after purchasing an additional 785,850 shares in the last quarter. Finally, Millennium Management LLC raised its position in SBA Communications by 171.8% in the fourth quarter. Millennium Management LLC now owns 811,543 shares of the technology company's stock valued at $156,977,000 after purchasing an additional 513,002 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC opened at $182.11 on Tuesday. The business has a 50-day moving average of $185.10 and a 200-day moving average of $194.27. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $225.33.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The business had revenue of $715.27 million for the quarter, compared to analysts' expectations of $706.01 million. During the same period in the prior year, the business posted $3.17 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that SBA Communications Corporation will post 11.41 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. SBA Communications's dividend payout ratio (DPR) is 53.88%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on SBA Communications from $230.00 to $220.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 4th. Truist Financial dropped their price objective on shares of SBA Communications from $248.00 to $238.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research report on Friday, June 26th. They set a "neutral" rating and a $205.00 target price on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of SBA Communications in a report on Monday, July 20th. Finally, Wells Fargo & Company raised shares of SBA Communications from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, SBA Communications has an average rating of "Hold" and an average price target of $228.12.

About SBA Communications

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.

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