SBA Communications Corporation $SBAC Shares Bought by Walleye Capital LLC

Key Points

• Walleye Capital LLC increased its stake in SBA Communications Corporation by 15.3% in Q1, holding 77,320 shares valued at approximately $17 million.
• Analysts have set an average price target of $258.25 for SBA Communications, with an overall rating of "Moderate Buy."
• The company announced a quarterly dividend of $1.11 per share, providing a yield of 2.0%, with the payment date set for September 18th.

Walleye Capital LLC increased its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 15.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,320 shares of the technology company's stock after acquiring an additional 10,273 shares during the period. Walleye Capital LLC owned approximately 0.07% of SBA Communications worth $17,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares in the last quarter. Dodge & Cox lifted its position in shares of SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after purchasing an additional 1,139,009 shares in the last quarter. BROOKFIELD Corp ON lifted its position in shares of SBA Communications by 27,449.9% during the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after purchasing an additional 987,647 shares in the last quarter. Nuveen LLC acquired a new position in shares of SBA Communications during the first quarter worth $152,973,000. Finally, GAMMA Investing LLC lifted its position in shares of SBA Communications by 30,393.6% during the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after purchasing an additional 369,282 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBAC has been the topic of several recent analyst reports. UBS Group upped their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a report on Tuesday, May 20th. Barclays increased their target price on shares of SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Bank of America initiated coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 target price on the stock. Finally, Scotiabank initiated coverage on shares of SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $258.25.

SBA Communications Stock Performance

SBA Communications stock opened at $222.87 on Monday. The company has a 50-day simple moving average of $228.85 and a 200-day simple moving average of $224.98. The firm has a market capitalization of $23.93 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.05 and a beta of 0.77. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64.

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

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend 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.

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