NBC Securities Inc. Increases Position in SBA Communications Corporation $SBAC

Key Points

• NBC Securities Inc. significantly increased its holdings in SBA Communications Corporation by 6,879.1% during Q2, resulting in ownership of 14,028 shares worth approximately $3.29 million.
• Analysts have given mixed ratings on SBA Communications, with target prices ranging from $235.00 to $280.00, while the stock currently holds an average rating of “Moderate Buy”.
• SBA Communications declared a quarterly dividend of $1.11 per share with an annualized yield of 2.2%, reflecting a payout ratio of 56.42%.

NBC Securities Inc. boosted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 6,879.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,028 shares of the technology company's stock after purchasing an additional 13,827 shares during the period. NBC Securities Inc.'s holdings in SBA Communications were worth $3,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in shares of SBA Communications in the 1st quarter valued at $28,000. Stone House Investment Management LLC bought a new position in shares of SBA Communications in the 1st quarter valued at $33,000. Allworth Financial LP lifted its stake in shares of SBA Communications by 62.0% in 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 during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after acquiring an additional 84 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of SBA Communications in the 1st quarter valued at $47,000. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays decreased their price objective on SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a report on Monday. Wells Fargo & Company lifted their price objective on SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. UBS Group lifted their price objective on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. Finally, JMP Securities set a $280.00 target price on SBA Communications and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.63.

SBA Communications Stock Performance

SBAC stock traded up $0.37 during midday trading on Friday, reaching $199.19. 443,538 shares of the company's stock traded hands, compared to its average volume of 925,583. The firm has a market capitalization of $21.39 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. SBA Communications Corporation has a 52 week low of $186.81 and a 52 week high of $252.64. The company has a 50-day moving average price of $216.93 and a two-hundred day moving average price of $223.53.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a $1.11 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. 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.