EP Wealth Advisors LLC Grows Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• EP Wealth Advisors LLC significantly increased its holdings in SBA Communications Corporation by 195.1% in Q1, bringing its total shares to 7,195, valued at approximately $1.58 million.
• SBA Communications reported a quarterly earnings per share of $3.17, beating estimates, with a revenue of $698.98 million, representing a 5.8% year-over-year increase.
• The company announced a quarterly dividend of $1.11 per share, reflecting an annualized dividend yield of 2.3%, with a payout ratio of 56.42%.

EP Wealth Advisors LLC increased its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 195.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,195 shares of the technology company's stock after buying an additional 4,757 shares during the quarter. EP Wealth Advisors LLC's holdings in SBA Communications were worth $1,583,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in SBA Communications in the first quarter worth $28,000. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications during the first quarter valued at $33,000. Allworth Financial LP boosted its stake 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 valued at $36,000 after purchasing an additional 62 shares during the period. NBC Securities Inc. boosted its stake 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 valued at $44,000 after purchasing an additional 189 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of SBA Communications during the first quarter valued at $47,000. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBAC. UBS Group boosted their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley boosted their target price on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Bank of America lowered shares of SBA Communications from a "buy" rating to a "neutral" rating and lowered their target price for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research note 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 issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Stock Up 0.8%

NASDAQ:SBAC traded up $1.50 during mid-day trading on Wednesday, reaching $192.97. The company's stock had a trading volume of 183,828 shares, compared to its average volume of 902,077. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64. The stock has a fifty day moving average of $222.02 and a 200-day moving average of $224.50. The firm has a market capitalization of $20.72 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.82 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data 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 net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million during 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. The firm'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. On average, analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. 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.