Kodai Capital Management LP Purchases 40,943 Shares of SBA Communications Corporation $SBAC

Key Points

• Kodai Capital Management LP increased its stake in SBA Communications by 53.7%, now owning approximately 0.11% of the company worth $25.78 million after acquiring over 40,000 additional shares.
• SBA Communications reported quarterly earnings of $3.17 per share, surpassing analysts' expectations, with a revenue of $698.98 million, a 5.8% increase from the prior year.
• The company declared a quarterly dividend of $1.11, with an annualized dividend of $4.44, representing a dividend yield of 2.2% and a payout ratio of 56.42%.

Kodai Capital Management LP lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 53.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,166 shares of the technology company's stock after acquiring an additional 40,943 shares during the quarter. Kodai Capital Management LP owned approximately 0.11% of SBA Communications worth $25,778,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications during the 1st quarter valued at $28,000. Stone House Investment Management LLC acquired a new stake in shares of SBA Communications during the 1st quarter valued at $33,000. Allworth Financial LP boosted 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. NBC Securities Inc. boosted its holdings in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after acquiring an additional 189 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of SBA Communications during the 1st quarter valued at $47,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group raised their price objective on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Morgan Stanley raised their price objective on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price for the company. Finally, JMP Securities set a $280.00 target price on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Two 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.38.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $2.24 during midday trading on Wednesday, reaching $199.76. The company's stock had a trading volume of 653,365 shares, compared to its average volume of 870,865. The firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.94 and a beta of 0.80. The firm has a 50 day moving average price of $225.87 and a two-hundred day moving average price of $224.97. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that SBA Communications Corporation will post 12.57 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 18th. Stockholders of record on Thursday, August 21st will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's payout ratio is currently 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.