Generali Asset Management SPA SGR Makes New Investment in SBA Communications Corporation $SBAC

Key Points

• Generali Asset Management SPA SGR has acquired a new position in SBA Communications, purchasing 5,630 shares valued at approximately $1,322,000 in Q2.
• Analysts have given SBA Communications a consensus rating of "Moderate Buy" with an average target price of $243.73 based on recent evaluations.
• SBA Communications has declared a quarterly dividend of $1.11 per share, representing an annualized dividend yield of 2.3%.

Generali Asset Management SPA SGR purchased a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,630 shares of the technology company's stock, valued at approximately $1,322,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in SBA Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock worth $3,886,844,000 after buying an additional 268,018 shares during the period. Dodge & Cox raised its holdings in SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after buying an additional 1,139,009 shares during the period. JPMorgan Chase & Co. raised its holdings in SBA Communications by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after buying an additional 1,715,541 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in SBA Communications by 7.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock worth $439,310,000 after buying an additional 135,682 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in SBA Communications by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company's stock worth $436,969,000 after buying an additional 204,902 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent analyst reports. Scotiabank initiated coverage on SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price objective on the stock. Barclays cut their price objective on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Weiss Ratings restated a "hold (c-)" rating on shares of SBA Communications in a report on Tuesday. KeyCorp lowered their target price on SBA Communications from $280.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Finally, UBS Group lowered their target price on SBA Communications from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Tuesday. Two research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $243.73.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $196.26 on Friday. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.08 and a beta of 0.82. The business has a 50 day simple moving average of $201.61 and a 200 day simple moving average of $219.73. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $248.89.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping 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 prior year, the business posted $3.29 EPS. SBA Communications's quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were paid a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications's dividend payout ratio is 56.42%.

SBA Communications Company 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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Corporation (NASDAQ:SBAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.