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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 268,018 shares during the period. Dodge & Cox grew its stake in SBA Communications by 15.5% in the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after acquiring an additional 1,139,009 shares during the period. JPMorgan Chase & Co. grew its stake in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock valued at $1,314,265,000 after acquiring an additional 1,715,541 shares during the period. Diamond Hill Capital Management Inc. grew its stake in SBA Communications by 7.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock valued at $439,310,000 after acquiring an additional 135,682 shares during the period. Finally, Victory Capital Management Inc. grew its stake in SBA Communications by 11.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company's stock valued at $436,969,000 after acquiring an additional 204,902 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Trading Up 0.3%

SBAC traded up $0.53 on Friday, hitting $199.97. 1,334,433 shares of the company's stock were exchanged, compared to its average volume of 1,260,291. SBA Communications Corporation has a fifty-two week low of $186.81 and a fifty-two week high of $252.64. The firm has a 50-day moving average price of $219.72 and a 200-day moving average price of $224.06. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.89 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current 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 given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. SBA Communications's payout ratio is presently 56.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Scotiabank assumed coverage on shares of SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the company a "strong-buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research note on Tuesday, May 20th. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. Finally, Barclays lifted their price target 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.38.

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.