CW Advisors LLC Acquires Shares of 5,071 SBA Communications Corporation $SBAC

Key Points

• CW Advisors LLC has acquired a new stake in SBA Communications Corporation, purchasing 5,071 shares valued at approximately $1,116,000 during the first quarter.
• SBA Communications reported stronger-than-expected quarterly earnings, with an EPS of $3.17 surpassing estimates, and revenue of $698.98 million, up 5.8% year-over-year.
• The company announced a quarterly dividend of $1.11 per share, which will be paid to stockholders of record, representing an annualized dividend yield of 2.0%.

CW Advisors LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,071 shares of the technology company's stock, valued at approximately $1,116,000.

Other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky purchased a new position in shares of SBA Communications during the 1st quarter worth $28,000. Stone House Investment Management LLC acquired a new position in SBA Communications in the 1st quarter valued at about $33,000. Allworth Financial LP grew its position in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares in the last quarter. NBC Securities Inc. grew its position in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of SBA Communications during the first quarter worth about $47,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

SBAC has been the subject of several recent analyst reports. Barclays boosted their target price on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research note on Tuesday, May 20th. Bank of America cut SBA Communications from a "buy" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $230.00 in a research note on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Finally, Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.38.

SBA Communications Trading Down 0.6%

Shares of SBA Communications stock traded down $1.19 during trading hours on Friday, reaching $204.85. The stock had a trading volume of 1,350,775 shares, compared to its average volume of 956,245. The firm has a 50 day simple moving average of $227.15 and a two-hundred day simple moving average of $225.13. The firm has a market capitalization of $22.00 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.94 and a beta of 0.80. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

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