Czech National Bank Buys 1,585 Shares of SBA Communications Corporation $SBAC

Key Points

• Czech National Bank increased its stake in SBA Communications Corporation by 6.4% in Q2, now holding 26,265 shares valued at approximately $6.17 million.
• The company reported earnings of $3.17 per share for the last quarter, surpassing analyst expectations, with revenue increasing by 5.8% year-over-year to $698.98 million.
• SBA Communications recently announced a quarterly dividend of $1.11 per share, indicating a 2.2% annualized dividend yield.

Czech National Bank raised its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,265 shares of the technology company's stock after purchasing an additional 1,585 shares during the quarter. Czech National Bank's holdings in SBA Communications were worth $6,168,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new position in shares of 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 during the first quarter worth $33,000. Allworth Financial LP raised 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 purchasing an additional 62 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 buying an additional 84 shares in the last quarter. Finally, NBC Securities Inc. grew 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 purchasing an additional 189 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SBAC shares. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Barclays cut 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 note on Monday, September 15th. Scotiabank initiated coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price for the company. UBS Group upped their price objective 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. Finally, Wells Fargo & Company increased their price target on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Two investment 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 stock. Based on data from MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $251.63.

SBA Communications Stock Up 0.1%

Shares of SBAC traded up $0.28 during trading hours on Friday, reaching $199.10. The company's stock had a trading volume of 1,832,392 shares, compared to its average volume of 1,424,626. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.88 and a beta of 0.80. SBA Communications Corporation has a 1-year low of $186.81 and a 1-year high of $252.64. The company has a 50 day moving average of $216.34 and a two-hundred day moving average of $223.41.

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. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same quarter in the prior year, the company posted $3.29 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were paid a $1.11 dividend. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. 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.