Perpetual Ltd Has $43.12 Million Position in SBA Communications Corporation $SBAC

Key Points

• Perpetual Ltd increased its stake in SBA Communications Corporation by 3.4% in the second quarter, owning 183,622 shares valued at approximately $43.12 million.
• SBA Communications reported earnings of $3.17 per share, exceeding analysts' estimates, with revenue of $698.98 million for the quarter, showing a 5.8% year-over-year increase.
• The company recently announced a quarterly dividend of $1.11 per share, reflecting a 2.2% yield and a payout ratio of 56.42%.

Perpetual Ltd increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,622 shares of the technology company's stock after purchasing an additional 6,062 shares during the quarter. Perpetual Ltd owned approximately 0.17% of SBA Communications worth $43,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in shares of SBA Communications during the first quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new position in SBA Communications in the 1st quarter valued at $33,000. Allworth Financial LP increased its stake in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after buying an additional 62 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after buying an additional 84 shares during the period. Finally, NBC Securities Inc. raised its position in shares of 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 during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.6%

Shares of SBAC stock traded down $1.10 on Monday, hitting $198.00. The stock had a trading volume of 1,708,798 shares, compared to its average volume of 937,781. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The company has a fifty day moving average price of $216.34 and a two-hundred day moving average price of $223.44. The firm has a market cap of $21.26 billion, a P/E ratio of 25.16, a PEG ratio of 1.88 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 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 for the quarter, compared to analyst estimates of $670.73 million. During the same period in the previous year, the company posted $3.29 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications's dividend payout ratio is 56.42%.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of research reports. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective for the company. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Morgan Stanley increased their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Finally, KeyCorp cut their price target on SBA Communications from $280.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Two equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $251.63.

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.