Maryland State Retirement & Pension System Increases Position in SBA Communications Corporation $SBAC

Key Points

• The Maryland State Retirement & Pension System increased its holdings in SBA Communications Corporation by 6.1%, owning a total of approximately 102,053 shares valued at around $23.97 million.
• SBA Communications reported earnings of $3.17 per share for the last quarter, surpassing analysts' expectations, with a revenue of $698.98 million.
• Analysts have a consensus recommendation of "Moderate Buy" for SBA Communications stock, with recent target prices ranging from $235.00 to $285.00 set by various financial institutions.

Maryland State Retirement & Pension System raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,053 shares of the technology company's stock after buying an additional 5,850 shares during the period. Maryland State Retirement & Pension System owned about 0.09% of SBA Communications worth $23,966,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBAC. NBC Securities Inc. boosted its position in 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 buying an additional 189 shares during the period. UMB Bank n.a. boosted its position in SBA Communications by 95.3% during the first quarter. UMB Bank n.a. now owns 373 shares of the technology company's stock valued at $82,000 after buying an additional 182 shares during the period. Farther Finance Advisors LLC boosted its position in SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after buying an additional 45 shares during the period. Pallas Capital Advisors LLC boosted its position in SBA Communications by 158.8% during the first quarter. Pallas Capital Advisors LLC now owns 5,277 shares of the technology company's stock valued at $1,161,000 after buying an additional 3,238 shares during the period. Finally, GAMMA Investing LLC boosted its position in SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after buying an additional 469 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SBAC shares. Weiss Ratings restated a "hold (c)" rating on shares of SBA Communications in a research report on Saturday, September 27th. UBS Group increased their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Scotiabank initiated coverage on shares of SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price for the company. Royal Bank Of Canada dropped their target price on shares of SBA Communications from $255.00 to $235.00 and set an "outperform" rating for the company in a report on Thursday, October 2nd. Finally, Wells Fargo & Company increased their target price on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.07.

SBA Communications Price Performance

SBAC stock opened at $187.61 on Thursday. SBA Communications Corporation has a 1 year low of $186.51 and a 1 year high of $252.64. The company has a market cap of $20.15 billion, a P/E ratio of 23.84, a PEG ratio of 1.78 and a beta of 0.82. The firm has a 50-day moving average of $206.06 and a 200 day moving average of $220.96.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released 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 company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period in the prior year, the firm earned $3.29 earnings per share. SBA Communications's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, equities research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications's dividend payout ratio (DPR) is currently 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.

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