BROOKFIELD Corp ON Boosts Holdings in SBA Communications Corporation $SBAC

Key Points

• BROOKFIELD Corp ON has increased its stake in SBA Communications by 1.8%, holding approximately 1,008,947 shares valued at about $221.98 million, making it the 12th biggest holding in their portfolio.
• SBA Communications recently reported earnings of $3.17 per share, exceeding the consensus estimate of $3.10, along with a revenue of $698.98 million for the quarter.
• The company announced a quarterly dividend of $1.11 per share, which translates to a 2.2% yield, with the payment scheduled for September 18th.

BROOKFIELD Corp ON grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,008,947 shares of the technology company's stock after acquiring an additional 17,702 shares during the period. SBA Communications accounts for 1.3% of BROOKFIELD Corp ON's holdings, making the stock its 12th largest position. BROOKFIELD Corp ON owned about 0.94% of SBA Communications worth $221,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Independence Bank of Kentucky acquired a new stake in SBA Communications during the 1st quarter worth approximately $28,000. Stone House Investment Management LLC bought a new position in SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP lifted its holdings 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 in the last quarter. Geneos Wealth Management Inc. boosted its position 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 acquiring an additional 84 shares during the period. Finally, NBC Securities Inc. boosted its position in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after acquiring an additional 189 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays decreased their target price on shares of SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday. 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. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a "strong-buy" rating in a research note on Tuesday, August 5th. Scotiabank initiated coverage on SBA Communications in a research report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 target price for the company. Finally, UBS Group increased their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $251.63.

SBA Communications Trading Up 1.5%

Shares of SBAC traded up $3.00 on Wednesday, reaching $202.18. The company's stock had a trading volume of 379,226 shares, compared to its average volume of 920,983. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The stock has a market capitalization of $21.71 billion, a PE ratio of 25.71, a PEG ratio of 1.87 and a beta of 0.80. The firm has a fifty day moving average of $218.31 and a 200-day moving average of $223.85.

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

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's dividend payout ratio (DPR) 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.