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 acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,617 shares of the technology company's stock, valued at approximately $356,000.

A number of other hedge funds have also recently added to or reduced their stakes in SBAC. JPMorgan Chase & Co. grew its stake in SBA Communications by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock valued at $1,314,265,000 after acquiring an additional 1,715,541 shares during the period. Dodge & Cox grew its stake in SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after acquiring an additional 1,139,009 shares during the period. Nuveen LLC acquired a new stake in SBA Communications in the first quarter valued at approximately $152,973,000. GAMMA Investing LLC boosted its position in shares of SBA Communications by 30,393.6% during the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after buying an additional 369,282 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of SBA Communications by 394.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company's stock valued at $88,497,000 after buying an additional 320,819 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SBAC. Raymond James Financial set a $265.00 target price on SBA Communications and gave the company a "strong-buy" rating in a research report on Tuesday, August 5th. JMP Securities set a $280.00 target price on SBA Communications and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Bank of America cut SBA Communications from a "buy" rating to a "neutral" rating and cut their target price for the company from $260.00 to $230.00 in a research report on Wednesday, August 27th. Wells Fargo & Company lifted their target price on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research report on Tuesday, May 20th. Two investment 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $256.38.

SBA Communications Price Performance

Shares of SBAC opened at $199.97 on Friday. The firm has a market cap of $21.47 billion, a PE ratio of 25.41, a PEG ratio of 1.89 and a beta of 0.80. The stock's fifty day moving average price is $219.72 and its two-hundred day moving average price is $224.06. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64.

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 (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. SBA Communications's payout ratio 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.

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