SBA Communications Corporation $SBAC Shares Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in SBA Communications Corporation (NASDAQ:SBAC) by 3.2%, now owning approximately 84,790 shares valued at $18.66 million.
• Wall Street analysts have mixed ratings for SBA Communications, with a consensus rating of "Moderate Buy" and a consensus price target of $256.38.
• SBA Communications announced a quarterly dividend of $1.11 per share, translating to an annualized dividend yield of 2.2%.

The Manufacturers Life Insurance Company increased its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,790 shares of the technology company's stock after acquiring an additional 2,647 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of SBA Communications worth $18,655,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Integrated Wealth Concepts LLC acquired a new stake in SBA Communications during the fourth quarter valued at approximately $228,000. Mercer Global Advisors Inc. ADV raised its stake in SBA Communications by 89.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,922 shares of the technology company's stock valued at $1,207,000 after buying an additional 2,795 shares in the last quarter. AXA S.A. raised its stake in SBA Communications by 17.4% during the fourth quarter. AXA S.A. now owns 13,100 shares of the technology company's stock valued at $2,670,000 after buying an additional 1,939 shares in the last quarter. BNP Paribas Financial Markets raised its stake in SBA Communications by 47.9% during the fourth quarter. BNP Paribas Financial Markets now owns 251,848 shares of the technology company's stock valued at $51,327,000 after buying an additional 81,570 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in SBA Communications by 25.2% during the fourth quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock valued at $498,000 after buying an additional 492 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the company a "strong-buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. Morgan Stanley increased their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. UBS Group increased their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their price target 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. Two 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 MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Trading Down 1.4%

Shares of SBA Communications stock opened at $202.00 on Wednesday. The business's 50 day simple moving average is $225.87 and its 200-day simple moving average is $224.97. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.94 and a beta of 0.80. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data 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 negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same period in the prior year, the company posted $3.29 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts predict 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. Investors of record on Thursday, August 21st will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's dividend payout ratio is 56.42%.

About SBA Communications

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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