Avanza Fonder AB Has $2.06 Million Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• Avanza Fonder AB increased its stake in SBA Communications Corporation by 37.3%, owning 8,784 shares valued at approximately $2.06 million as of the end of the second quarter.
• Analysts hold a mostly positive outlook on SBA Communications, with a consensus price target of $251.63 and ratings ranging from "Strong Buy" to "Hold."
• The company declared a quarterly dividend of $1.11 per share, reflecting an annualized yield of 2.2%, and reported strong quarterly earnings with an EPS of $3.17.

Avanza Fonder AB raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 37.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,784 shares of the technology company's stock after buying an additional 2,386 shares during the period. Avanza Fonder AB's holdings in SBA Communications were worth $2,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky purchased a new position in SBA Communications during the first quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new position in shares of SBA Communications in the first quarter valued at $33,000. Allworth Financial LP grew its holdings in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after purchasing an additional 84 shares during the period. Finally, NBC Securities Inc. lifted its position in SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. JMP Securities set a $280.00 price target on SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. KeyCorp decreased their price target on shares of SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Barclays cut their target price on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Finally, Wells Fargo & Company increased their price target on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Two equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $251.63.

SBA Communications Price Performance

Shares of SBAC traded down $1.10 during mid-day trading on Monday, reaching $198.00. 1,733,748 shares of the company's stock were exchanged, compared to its average volume of 1,490,573. The business's fifty day simple moving average is $215.65 and its 200-day simple moving average is $223.26. The stock has a market capitalization of $21.26 billion, a PE ratio of 25.16, 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.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping 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 company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research 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 announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were paid 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 was Thursday, August 21st. SBA Communications's 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.