Crescent Park Management L.P. Has $15.63 Million Holdings in SBA Communications Corporation $SBAC

Key Points

• Crescent Park Management L.P. increased its stake in SBA Communications Corporation by 3.9% during Q1, making it the fund's second largest holding at approximately $15.6 million.
• SBA Communications reported earnings of $3.17 EPS for the last quarter, surpassing estimates and showing a revenue increase of 5.8% compared to the previous year.
• The company has declared a quarterly dividend of $1.11 per share, with a payout ratio of 56.42%, representing a 2.0% annual yield.

Crescent Park Management L.P. boosted its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,043 shares of the technology company's stock after purchasing an additional 2,684 shares during the quarter. SBA Communications comprises about 7.3% of Crescent Park Management L.P.'s holdings, making the stock its 2nd largest position. Crescent Park Management L.P. owned 0.07% of SBA Communications worth $15,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allstate Corp increased its stake in shares of SBA Communications by 37.3% during the 1st quarter. Allstate Corp now owns 4,383 shares of the technology company's stock valued at $964,000 after acquiring an additional 1,191 shares during the last quarter. Circle Wealth Management LLC increased its stake in shares of SBA Communications by 75.8% during the 1st quarter. Circle Wealth Management LLC now owns 5,785 shares of the technology company's stock valued at $1,273,000 after acquiring an additional 2,494 shares during the last quarter. Compound Planning Inc. acquired a new position in shares of SBA Communications during the 1st quarter valued at about $257,000. Ameriprise Financial Inc. increased its stake in shares of SBA Communications by 1.8% during the 1st quarter. Ameriprise Financial Inc. now owns 970,058 shares of the technology company's stock valued at $213,422,000 after acquiring an additional 16,699 shares during the last quarter. Finally, Norinchukin Bank The increased its stake in shares of SBA Communications by 15.1% during the 1st quarter. Norinchukin Bank The now owns 5,528 shares of the technology company's stock valued at $1,216,000 after acquiring an additional 725 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday, August 5th. JMP Securities set a $280.00 price target on SBA Communications and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Morgan Stanley upped their price target on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research report on Tuesday, May 20th. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $256.38.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $2.14 on Thursday, hitting $206.00. The company's stock had a trading volume of 590,005 shares, compared to its average volume of 859,199. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.01 and a beta of 0.77. The stock's 50-day moving average is $228.09 and its two-hundred day moving average is $224.93.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly 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. 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 during the quarter, compared to analysts' expectations of $670.73 million. During the same quarter in the prior year, the business posted $3.29 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Equities analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

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

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.