MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $15.24 Million Position in SBA Communications Corporation $SBAC

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 holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 48.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,253 shares of the technology company's stock after acquiring an additional 22,646 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of SBA Communications worth $15,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Independence Bank of Kentucky bought a new position in SBA Communications during the first quarter worth about $28,000. Stone House Investment Management LLC bought a new position in SBA Communications during the first quarter worth about $33,000. Allworth Financial LP lifted its holdings in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after acquiring an additional 62 shares in the last quarter. NBC Securities Inc. lifted its holdings in SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after acquiring an additional 189 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in SBA Communications during the first quarter worth about $47,000. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBAC has been the topic of a number of research reports. Wells Fargo & Company boosted their price target on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Bank of America lowered SBA Communications from a "buy" rating to a "neutral" rating and cut their price target for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. UBS Group boosted their price target on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Scotiabank initiated coverage on SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. Finally, JMP Securities set a $280.00 price target on SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. Two investment 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 stock. According to data from MarketBeat.com, SBA Communications presently has an average rating of "Moderate Buy" and an average target price of $256.38.

SBA Communications Trading Up 0.3%

NASDAQ:SBAC traded up $0.53 on Friday, hitting $199.97. The company's stock had a trading volume of 1,334,433 shares, compared to its average volume of 1,287,447. The stock has a fifty day moving average of $219.72 and a two-hundred day moving average of $224.16. The firm has a market capitalization of $21.47 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80. SBA Communications Corporation has a one year low of $186.81 and a one year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million for 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 business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

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

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.