SBA Communications Corporation $SBAC Stake Lifted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SBA Communications Corporation by 48.6%, acquiring an additional 22,646 shares for a total of 69,253 shares valued at approximately $15.24 million.
• The company reported earnings per share of $3.17, exceeding analysts' expectations of $3.10, along with a revenue of $698.98 million, which is a 5.8% increase year-over-year.
• SBA Communications declared a quarterly dividend of $1.11 per share, reflecting a dividend yield of 2.2% with a payout ratio of 56.42%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 48.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,253 shares of the technology company's stock after purchasing an additional 22,646 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of SBA Communications worth $15,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after buying an additional 45 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in SBA Communications by 5.6% in the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock worth $194,000 after buying an additional 47 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in SBA Communications by 2.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after buying an additional 50 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in SBA Communications by 25.8% in the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock worth $64,000 after buying an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its holdings in SBA Communications by 6.0% in the 1st quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock worth $242,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded up $0.53 during trading on Friday, reaching $199.97. 1,334,433 shares of the company's stock traded hands, compared to its average volume of 916,404. SBA Communications Corporation has a 12 month low of $186.81 and a 12 month high of $252.64. The company has a 50 day moving average of $220.43 and a 200-day moving average of $224.19. The stock has a market capitalization of $21.47 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $670.73 million. During the same quarter in the prior year, the firm earned $3.29 EPS. 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. Equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on SBAC shares. Scotiabank started coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective on the stock. Barclays boosted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley upped their target price 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. Citigroup restated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Finally, UBS Group upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus target price 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.