Dynamic Technology Lab Private Ltd Acquires Shares of 1,617 SBA Communications Corporation $SBAC

Key Points

• Dynamic Technology Lab Private Ltd has acquired 1,617 shares of SBA Communications, valued at approximately $356,000, according to its recent SEC filing.
• Institutional investors and hedge funds now own 97.35% of SBA Communications' stock, indicating a high level of institutional interest.
• SBA Communications recently announced a quarterly dividend of $1.11 per share, which reflects an annualized dividend yield of 2.2%.

Dynamic Technology Lab Private Ltd purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,617 shares of the technology company's stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV grew its holdings in shares of SBA Communications by 1.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,098 shares of the technology company's stock worth $2,882,000 after purchasing an additional 170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SBA Communications by 48.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,253 shares of the technology company's stock worth $15,236,000 after purchasing an additional 22,646 shares during the last quarter. Concentric Capital Strategies LP bought a new stake in shares of SBA Communications during the first quarter worth about $933,000. Alliancebernstein L.P. grew its holdings in shares of SBA Communications by 13.4% during the first quarter. Alliancebernstein L.P. now owns 153,109 shares of the technology company's stock worth $33,686,000 after purchasing an additional 18,113 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of SBA Communications during the first quarter worth about $372,000. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBAC has been the topic of several research reports. Morgan Stanley boosted their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Raymond James Financial set a $265.00 price target on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday, August 5th. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Bank of America cut SBA Communications from a "buy" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Finally, Scotiabank initiated coverage on SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $251.63.

SBA Communications Stock Down 0.3%

SBAC traded down $0.56 during trading on Thursday, hitting $198.82. The company's stock had a trading volume of 1,119,769 shares, compared to its average volume of 1,394,953. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The stock's fifty day moving average price is $216.93 and its 200-day moving average price is $223.53. The firm has a market capitalization of $21.35 billion, a P/E ratio of 25.26, a PEG ratio of 1.88 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $670.73 million. During the same period in the prior year, the firm earned $3.29 earnings per share. SBA Communications's revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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