Cwm LLC Raises Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• Cwm LLC increased its stake in SBA Communications Corporation by 11.1% during the 2nd quarter, resulting in holdings valued at $3.5 million.
• SBA Communications reported a quarterly earnings per share (EPS) of $3.17, exceeding analysts' expectations and reflecting a 5.8% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $1.11, representing an annualized dividend yield of 2.2%.

Cwm LLC grew its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,982 shares of the technology company's stock after acquiring an additional 1,494 shares during the quarter. Cwm LLC's holdings in SBA Communications were worth $3,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications in the first quarter valued at $33,000. Allworth Financial LP lifted its position in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after buying an additional 84 shares during the period. Zions Bancorporation National Association UT purchased a new position in SBA Communications during the first quarter worth about $47,000. Finally, Summit Securities Group LLC purchased a new position in SBA Communications during the first quarter worth about $47,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBA Communications stock opened at $197.42 on Friday. The stock's 50-day moving average is $202.10 and its 200-day moving average is $219.90. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $248.89.

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. Research analysts anticipate 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 was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were paid a $1.11 dividend. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. SBA Communications's dividend payout ratio (DPR) is 56.42%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group reduced their target price on SBA Communications from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Tuesday. KeyCorp reduced their target price on SBA Communications from $280.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Wells Fargo & Company increased their target price on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Morgan Stanley reduced their target price on SBA Communications from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Barclays reduced their target price on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $243.73.

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.

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