Price T Rowe Associates Inc. MD Raises Holdings in SBA Communications Corporation $SBAC

Key Points

• Price T Rowe Associates Inc. MD increased its stake in SBA Communications by 1.6%, acquiring an additional 13,321 shares, bringing its total ownership to approximately 0.81% of the company, valued at $191 million.
• SBA Communications recently reported quarterly earnings of $3.17 EPS, exceeding estimates, with a revenue of $698.98 million reflecting a 5.8% year-over-year increase.
• The company announced a quarterly dividend of $1.11 per share, yielding 2.0%, with a payout ratio of 56.42% for the year.

Price T Rowe Associates Inc. MD increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 868,479 shares of the technology company's stock after acquiring an additional 13,321 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.81% of SBA Communications worth $191,076,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. NewEdge Advisors LLC grew its holdings in SBA Communications by 23.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after purchasing an additional 246 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of SBA Communications during the 1st quarter valued at approximately $302,000. GAMMA Investing LLC grew its stake in SBA Communications by 38.6% in the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after acquiring an additional 469 shares during the period. Praxis Investment Management Inc. purchased a new stake in SBA Communications in the 1st quarter worth $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in SBA Communications by 14.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock worth $3,146,000 after acquiring an additional 1,769 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 down $1.19 during midday trading on Friday, hitting $204.85. The company had a trading volume of 1,350,775 shares, compared to its average volume of 942,862. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64. The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. The business's 50-day simple moving average is $227.15 and its 200-day simple moving average is $225.02.

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 for the quarter, topping analysts' consensus estimates 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 company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the previous year, the company posted $3.29 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company 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 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) is presently 56.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SBAC shares. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. Bank of America lowered shares of SBA Communications from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $230.00 in a research note on Wednesday. UBS Group lifted 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. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, Citigroup restated an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.