Fox Run Management L.L.C. Buys New Shares in SBA Communications Corporation $SBAC

Key Points

• Fox Run Management L.L.C. acquired a new stake in SBA Communications Corporation, purchasing 3,429 shares valued at approximately $754,000.
• Several institutional investors have increased their holdings in SBA Communications, with 97.35% of the stock now owned by hedge funds and institutions.
• SBA Communications announced a quarterly dividend of $1.11, representing a yield of 2.0%, to be paid on September 18.

Fox Run Management L.L.C. 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 SEC. The firm acquired 3,429 shares of the technology company's stock, valued at approximately $754,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBAC. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications during the 1st quarter worth about $28,000. Stone House Investment Management LLC acquired a new position in SBA Communications in the 1st quarter valued at $33,000. Allworth Financial LP raised its holdings in SBA Communications by 62.0% in the 1st 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. NBC Securities Inc. raised its holdings in SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after acquiring an additional 189 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in SBA Communications in the 1st quarter valued at $47,000. Institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on SBAC. Wells Fargo & Company boosted their target price on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price on the stock. Bank of America assumed coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. BMO Capital Markets boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Finally, Citigroup restated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $258.25.

SBA Communications Trading Up 2.4%

Shares of NASDAQ SBAC traded up $5.11 during midday trading on Tuesday, hitting $220.26. The company's stock had a trading volume of 743,141 shares, compared to its average volume of 861,747. The stock has a fifty day moving average price of $229.24 and a 200 day moving average price of $224.40. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The firm has a market capitalization of $23.65 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 2.02 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly 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. 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 for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the previous year, the firm posted $3.29 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.0%. 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.