SBA Communications Corporation $SBAC Shares Purchased by BROOKFIELD Corp ON

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 increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,008,947 shares of the technology company's stock after purchasing an additional 17,702 shares during the period. SBA Communications accounts for about 1.3% of BROOKFIELD Corp ON's holdings, making the stock its 12th biggest holding. BROOKFIELD Corp ON owned approximately 0.94% of SBA Communications worth $221,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank increased its position in SBA Communications by 7.9% during the first quarter. First Hawaiian Bank now owns 13,354 shares of the technology company's stock worth $2,938,000 after purchasing an additional 977 shares during the last quarter. Geneos Wealth Management Inc. increased its position in 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 purchasing an additional 84 shares during the last quarter. Focus Partners Wealth increased its position in SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company's stock worth $712,000 after purchasing an additional 266 shares during the last quarter. Glenview Trust co acquired a new stake in SBA Communications during the first quarter worth about $231,000. Finally, Bayforest Capital Ltd increased its position in SBA Communications by 420.8% during the first quarter. Bayforest Capital Ltd now owns 1,729 shares of the technology company's stock worth $380,000 after purchasing an additional 1,397 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SBAC. Morgan Stanley raised their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research report on Tuesday, May 20th. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $256.38.

SBA Communications Price Performance

NASDAQ SBAC opened at $199.44 on Friday. The company has a market cap of $21.42 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.84 and a beta of 0.80. The stock has a 50-day moving average of $220.43 and a two-hundred day moving average of $224.19. SBA Communications Corporation has a 1-year low of $186.81 and a 1-year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million during 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%.SBA Communications's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's payout ratio is currently 56.42%.

SBA Communications 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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