Invesco Ltd. lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,313,662 shares of the technology company's stock after selling 115,220 shares during the period. Invesco Ltd. owned about 1.22% of SBA Communications worth $289,019,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SBAC. Raymond James Financial Inc. acquired a new stake in SBA Communications during the fourth quarter worth $20,765,000. Mariner LLC boosted its stake in SBA Communications by 17.6% during the fourth quarter. Mariner LLC now owns 6,118 shares of the technology company's stock worth $1,247,000 after buying an additional 917 shares in the last quarter. Walleye Capital LLC boosted its stake in SBA Communications by 10.1% during the fourth quarter. Walleye Capital LLC now owns 67,047 shares of the technology company's stock worth $13,664,000 after buying an additional 6,165 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of SBA Communications in the 4th quarter valued at $165,000. Finally, Ontario Teachers Pension Plan Board boosted its stake in shares of SBA Communications by 281.8% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,927 shares of the technology company's stock valued at $1,819,000 after purchasing an additional 6,589 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on SBAC. Citigroup restated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. 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. Bank of America began coverage on shares of SBA Communications in a research note on Monday, May 19th. They issued a "buy" rating and a $260.00 target price 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 note on Tuesday, April 29th. Finally, Barclays boosted their target price 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. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.25.
Read Our Latest Report on SBA Communications
SBA Communications Stock Performance
NASDAQ:SBAC traded up $3.03 on Friday, hitting $219.94. 791,328 shares of the stock were exchanged, compared to its average volume of 848,663. The stock has a market capitalization of $23.63 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.02 and a beta of 0.77. SBA Communications Corporation has a 52 week low of $192.55 and a 52 week high of $252.64. The company's 50-day moving average price is $229.43 and its 200 day moving average price is $224.10.
SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million during 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 company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.29 EPS. As a group, equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current year.
SBA Communications Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications's payout ratio is presently 56.42%.
About SBA Communications
(
Free Report)
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.
Further Reading
Before you consider SBA Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SBA Communications wasn't on the list.
While SBA Communications currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access