National Pension Service Buys 22,462 Shares of SBA Communications Corporation $SBAC

Key Points

• The National Pension Service increased its stake in SBA Communications Corporation by 14.3% during the first quarter, bringing its total holdings to approximately $39.57 million.
• SBA Communications reported a quarterly earnings per share (EPS) of $3.17, which surpassed analysts' estimates of $3.10, reflecting a revenue increase of 5.8% compared to the previous year.
• The company announced a quarterly dividend of $1.11 per share, representing a yield of 2.0%, with the ex-dividend date set for August 21st.

National Pension Service grew its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 14.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,840 shares of the technology company's stock after purchasing an additional 22,462 shares during the quarter. National Pension Service owned approximately 0.17% of SBA Communications worth $39,567,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in SBA Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock valued at $3,886,844,000 after acquiring an additional 268,018 shares during the period. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 40.3% during 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. Deutsche Bank AG boosted its holdings in SBA Communications by 5.9% during the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock valued at $491,549,000 after acquiring an additional 134,624 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in SBA Communications by 7.3% during 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. boosted its holdings in SBA Communications by 11.5% during 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. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 2.4%

Shares of NASDAQ:SBAC traded up $5.11 during trading on Tuesday, hitting $220.26. The stock had a trading volume of 743,141 shares, compared to its average volume of 861,747. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The company has a market capitalization of $23.65 billion, a PE ratio of 27.99, a PEG ratio of 2.02 and a beta of 0.77. The firm's fifty day moving average is $229.24 and its 200 day moving average is $224.40.

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. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.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 company earned $3.29 EPS. The business's revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) is 56.42%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBAC. BMO Capital Markets increased their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Wells Fargo & Company increased their target price on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Barclays increased their price objective on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley increased their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Finally, UBS Group increased their price objective on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $258.25.

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.