MBB Public Markets I LLC Invests $318,000 in SBA Communications Corporation $SBAC

Key Points

• MBB Public Markets I LLC has made a new investment in SBA Communications Corporation, acquiring 1,444 shares valued at approximately $318,000.
• SBA Communications recently raised its quarterly dividend to $1.11 per share, representing an annualized dividend yield of 2.3%.
• Analyst ratings for SBA Communications indicate a positive outlook, with Barclays and Wells Fargo recently boosting their price targets to $257.00 and $235.00, respectively.

MBB Public Markets I LLC bought a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,444 shares of the technology company's stock, valued at approximately $318,000.

A number of other large investors have also added to or reduced their stakes in SBAC. Baird Financial Group Inc. boosted its stake in shares of SBA Communications by 25.2% during the 4th quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock valued at $498,000 after purchasing an additional 492 shares in the last quarter. Captrust Financial Advisors boosted its stake in SBA Communications by 56.0% during the fourth quarter. Captrust Financial Advisors now owns 6,738 shares of the technology company's stock worth $1,373,000 after acquiring an additional 2,420 shares in the last quarter. Ethic Inc. boosted its stake in SBA Communications by 29.1% during the fourth quarter. Ethic Inc. now owns 6,271 shares of the technology company's stock worth $1,278,000 after acquiring an additional 1,414 shares in the last quarter. Focus Partners Wealth bought a new stake in SBA Communications during the fourth quarter worth about $605,000. Finally, Janus Henderson Group PLC boosted its stake in SBA Communications by 5.6% during the fourth quarter. Janus Henderson Group PLC now owns 182,792 shares of the technology company's stock worth $37,260,000 after acquiring an additional 9,688 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SBAC shares. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Morgan Stanley boosted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Barclays reduced their price objective on shares of SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research report on Tuesday, May 20th. Finally, Bank of America lowered shares of SBA Communications from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $254.44.

SBA Communications Stock Down 1.2%

Shares of SBA Communications stock traded down $2.36 during trading hours on Monday, reaching $197.61. 552,481 shares of the company's stock were exchanged, compared to its average volume of 914,036. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64. The business has a fifty day moving average of $219.72 and a two-hundred day moving average of $224.16. The company has a market capitalization of $21.22 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the firm posted $3.29 earnings per share. 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. As a group, research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors 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 dividend payout ratio is presently 56.42%.

About SBA Communications

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.