SBA Communications Corporation $SBAC Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in SBA Communications by 3% to 179,706 shares (about $42.2M), representing roughly 0.17% of the company; institutional investors own about 97.35% of SBAC.
• SBA Communications beat quarterly expectations with EPS of $3.30 (vs. $3.21 est.) and revenue of $732.3M, up 9.7% year-over-year, while the stock trades near $197 with a $21.18B market cap.
• Analysts have trimmed several price targets recently but the consensus rating is a Moderate Buy with an average target of $238.50, and the company declared a $1.11 quarterly dividend (annualized $4.44, ~2.3% yield) payable Dec. 11 (ex-dividend Nov. 13).

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 179,706 shares of the technology company's stock after purchasing an additional 5,246 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.17% of SBA Communications worth $42,202,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SBAC. CVA Family Office LLC grew its stake in SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company's stock worth $31,000 after buying an additional 67 shares during the period. Stone House Investment Management LLC purchased a new position in shares of SBA Communications in the 1st quarter valued at $33,000. Allworth Financial LP lifted its holdings in shares of 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 acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after purchasing an additional 84 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in SBA Communications during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cowen restated a "buy" rating on shares of SBA Communications in a research note on Tuesday, November 4th. BMO Capital Markets dropped their target price on SBA Communications from $215.00 to $210.00 and set a "market perform" rating on the stock in a report on Tuesday, November 4th. UBS Group reduced their price target on SBA Communications from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Tuesday, October 14th. Barclays decreased their price target on SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a report on Monday, September 15th. Finally, Morgan Stanley dropped their price objective on shares of SBA Communications from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $238.50.

SBA Communications Stock Up 1.7%

Shares of NASDAQ SBAC opened at $197.21 on Friday. The stock has a market capitalization of $21.18 billion, a P/E ratio of 25.06, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $245.16. The stock's 50 day moving average price is $195.00 and its two-hundred day moving average price is $216.29.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts' consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. During the same quarter in the previous year, the company posted $3.32 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications's dividend payout ratio (DPR) is 57.89%.

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.

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