SBA Communications Corporation $SBAC Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in SBA Communications Corporation by 52.3% during the first quarter, owning 37,158 shares valued at $8,175,000.
• SBA Communications has received positive analyst ratings, with a consensus price target of $256.38 and recent upgrades from Wells Fargo to $235.00 and JMP Securities to $280.00.
• The company reported earnings of $3.17 per share, exceeding estimates and achieving quarterly revenues of $698.98 million, a 5.8% increase year-over-year.

Ieq Capital LLC boosted its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 52.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,158 shares of the technology company's stock after acquiring an additional 12,756 shares during the period. Ieq Capital LLC's holdings in SBA Communications were worth $8,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in SBA Communications in the first quarter valued at $28,000. Stone House Investment Management LLC purchased a new stake in SBA Communications in the first quarter valued at $33,000. Allworth Financial LP lifted its position in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after acquiring an additional 62 shares during the last quarter. NBC Securities Inc. lifted its position in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after acquiring an additional 189 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in SBA Communications in the first quarter valued at $47,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

NASDAQ SBAC traded down $0.36 during trading on Wednesday, reaching $201.65. The company's stock had a trading volume of 386,965 shares, compared to its average volume of 868,835. The firm has a market cap of $21.65 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.94 and a beta of 0.80. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64. The business's fifty day moving average price is $225.87 and its 200-day moving average price is $224.97.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) 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 business had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period in the previous year, the business posted $3.29 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 21st. SBA Communications's payout ratio is 56.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SBAC shares. UBS Group boosted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays lifted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a "strong-buy" rating in a research note on Tuesday, August 5th. Citigroup restated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Finally, Morgan Stanley lifted their price objective 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. Two equities research 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's stock. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

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.