NFJ Investment Group LLC Has $24.31 Million Stake in SBA Communications Corporation $SBAC

Key Points

• NFJ Investment Group LLC decreased its stake in SBA Communications Corporation by 1.2%, owning 110,476 shares worth approximately $24.3 million after selling some shares in the first quarter.
• Institutional investors now hold 97.35% of SBA Communications' stock, indicating a strong interest from these entities.
• SBA Communications reported quarterly earnings of $3.17 EPS, exceeding estimates and achieved revenues of $698.98 million, surpassing analyst expectations for the quarter.

NFJ Investment Group LLC reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,476 shares of the technology company's stock after selling 1,379 shares during the quarter. NFJ Investment Group LLC owned 0.10% of SBA Communications worth $24,306,000 at the end of the most recent quarter.

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

SBA Communications Stock Up 0.9%

SBAC stock traded up $1.73 during midday trading on Wednesday, hitting $193.20. 707,346 shares of the company traded hands, compared to its average volume of 904,978. The business has a 50 day simple moving average of $222.02 and a 200-day simple moving average of $224.50. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.82 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared 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. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's payout ratio is currently 56.42%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price objective for the company. Barclays upped their price objective 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. UBS Group lifted 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. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a "strong-buy" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company boosted their target price on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Two 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.38.

SBA Communications 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.