SBA Communications Corporation $SBAC Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,005,366 shares of the technology company's stock after acquiring an additional 295,727 shares during the period. Bank of America Corp DE owned 0.95% of SBA Communications worth $173,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Dodge & Cox increased its holdings in shares of SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company's stock worth $2,320,412,000 after buying an additional 2,328,837 shares during the last quarter. State Street Corp increased its stake in SBA Communications by 3.3% during the fourth quarter. State Street Corp now owns 4,911,615 shares of the technology company's stock worth $950,054,000 after acquiring an additional 158,738 shares during the last quarter. Geode Capital Management LLC raised its position in SBA Communications by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company's stock valued at $594,655,000 after purchasing an additional 16,153 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of SBA Communications by 9.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company's stock valued at $393,615,000 after purchasing an additional 179,591 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of SBA Communications by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company's stock worth $351,082,000 after purchasing an additional 9,656 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on SBAC shares. Scotiabank boosted their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Morgan Stanley lowered their target price on shares of SBA Communications from $225.00 to $215.00 and set an "equal weight" rating for the company in a research note on Tuesday. Truist Financial dropped their price target on shares of SBA Communications from $248.00 to $238.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company raised shares of SBA Communications from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Finally, The Goldman Sachs Group began coverage on shares of SBA Communications in a report on Friday, June 26th. They issued a "neutral" rating and a $205.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, SBA Communications has an average rating of "Hold" and an average target price of $228.12.

SBA Communications Trading Down 5.1%

SBAC opened at $178.40 on Thursday. The stock's 50-day moving average price is $188.19 and its 200 day moving average price is $194.55. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $225.33. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.88 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.SBA Communications's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.17 EPS. On average, research analysts forecast that SBA Communications Corporation will post 11.42 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be issued a $1.25 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. SBA Communications's payout ratio is 52.63%.

More SBA Communications News

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: SBA Communications reported second-quarter adjusted earnings of $1.87 per share, slightly ahead of the $1.85 consensus, while revenue increased 2.3% year over year to $715.3 million. International leasing strength helped drive the FFO beat. SBAC Q2 FFO Beat Estimates on International Leasing Strength
• Positive Sentiment: The company raised its annual forecast, citing strong demand for cell-tower leasing. Management also outlined approximately 600 new tower builds for 2026 and expects to resume share buybacks during the second half of the year, signaling confidence in cash flow and future growth. SBA Communications outlines new tower builds and buybacks
• Positive Sentiment: SBA Communications declared a quarterly dividend of $1.25 per share, payable September 17 to shareholders of record August 20. The dividend represents an annualized yield of roughly 2.7%, adding to the stock’s income appeal. SBA Communications declares dividend
• Neutral Sentiment: Goldman Sachs maintained a Hold rating but reduced its price target from $205 to $200. JPMorgan also kept a Neutral rating while lowering its target from $230 to $220, and Morgan Stanley cut its target from $225 to $215. The revised targets remain above the current trading level but reflect more cautious expectations. Goldman Sachs maintains Hold on SBAC
• Negative Sentiment: Although international leasing was strong, weaker domestic activity and higher expenses pressured margins. The mixed operating picture, combined with multiple target-price cuts, likely explains why investors have reacted negatively even after the earnings and guidance beats.

SBA Communications Profile

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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