Sage Mountain Advisors LLC Makes New $433,000 Investment in SBA Communications Corporation $SBAC

Key Points

• Sage Mountain Advisors LLC has made a new investment of $433,000 in SBA Communications Corporation, acquiring 1,842 shares during the second quarter.
• Major equity analysts have varied ratings on SBA Communications, with price targets ranging from $220.00 to $280.00 and a consensus rating of "Moderate Buy".
• SBA Communications recently declared a quarterly dividend of $1.11 per share, representing an annualized dividend yield of 2.2%.

Sage Mountain Advisors LLC bought a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,842 shares of the technology company's stock, valued at approximately $433,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC boosted its holdings in SBA Communications by 9.6% in the 2nd quarter. AlphaQuest LLC now owns 5,573 shares of the technology company's stock worth $1,309,000 after acquiring an additional 488 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of SBA Communications by 0.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,547 shares of the technology company's stock worth $52,733,000 after purchasing an additional 810 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of SBA Communications in the second quarter valued at $106,000. Asset Management One Co. Ltd. boosted its stake in shares of SBA Communications by 0.8% in the second quarter. Asset Management One Co. Ltd. now owns 45,321 shares of the technology company's stock valued at $10,643,000 after purchasing an additional 348 shares during the period. Finally, Ethic Inc. grew its holdings in SBA Communications by 32.0% during the 2nd quarter. Ethic Inc. now owns 8,192 shares of the technology company's stock valued at $1,891,000 after purchasing an additional 1,986 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada decreased their price objective on shares of SBA Communications from $255.00 to $235.00 and set an "outperform" rating for the company in a research report on Thursday, October 2nd. Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. JMP Securities set a $280.00 target price on SBA Communications and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. KeyCorp decreased their price target on shares of SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Finally, The Goldman Sachs Group cut their price target on shares of SBA Communications from $250.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and an average target price of $242.40.

SBA Communications Price Performance

SBA Communications stock opened at $198.68 on Friday. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $247.04. The company has a fifty day moving average price of $199.49 and a two-hundred day moving average price of $219.08. The company has a market cap of $21.33 billion, a PE ratio of 25.25, a P/E/G ratio of 2.09 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same period last year, the firm posted $3.29 EPS. 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. Equities research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

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

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