SBA Communications Corporation $SBAC Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in SBA Communications Corporation by 42% in Q2, now owning 15,561 shares worth approximately $3.65 million.
• Despite fluctuations in target prices from various analysts, SBA Communications has a consensus rating of "Moderate Buy" with an average target of $242.40.
• SBA Communications declared a quarterly dividend of $1.11 per share, yielding 2.3%, with a payout ratio of 56.42%.

Allianz Asset Management GmbH grew its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 42.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,561 shares of the technology company's stock after buying an additional 4,606 shares during the quarter. Allianz Asset Management GmbH's holdings in SBA Communications were worth $3,654,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SBAC. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications during the first quarter worth approximately $33,000. Allworth Financial LP increased its stake in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after buying an additional 84 shares during the period. Summit Securities Group LLC purchased a new stake in shares of SBA Communications during the first quarter worth approximately $47,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of SBA Communications during the first quarter worth approximately $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBAC. Scotiabank began coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price on the stock. The Goldman Sachs Group dropped their price objective on SBA Communications from $250.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. Barclays dropped their price objective on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Morgan Stanley dropped their price objective on SBA Communications from $260.00 to $220.00 and set an "equal weight" rating on the stock in a report on Thursday, October 16th. Finally, UBS Group dropped their price objective on SBA Communications from $285.00 to $275.00 and set a "buy" rating on the stock in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and an average target price of $242.40.

SBA Communications Stock Down 0.6%

NASDAQ:SBAC opened at $196.10 on Friday. The stock's 50 day moving average price is $199.92 and its 200 day moving average price is $219.07. The company has a market capitalization of $21.06 billion, a PE ratio of 24.92, a P/E/G ratio of 2.08 and a beta of 0.82. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $247.04.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The firm 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate 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. Investors of record on Thursday, August 21st were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) is currently 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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