Goldman Sachs Group Inc. Boosts Stock Position in SBA Communications Corporation $SBAC

Key Points

• Goldman Sachs Group Inc. increased its stake in SBA Communications by 19.1% in Q1, acquiring an additional 122,557 shares, bringing their total to 765,434 shares valued at approximately $168.4 million.
• SBA Communications reported $3.17 earnings per share (EPS) for the last quarter, exceeding estimates by $0.07, with a revenue of $698.98 million, a 5.8% increase year-over-year.
• The company announced a quarterly dividend of $1.11 per share, resulting in an annualized rate of $4.44 with a modest dividend yield of 2.3%.

Goldman Sachs Group Inc. boosted its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 19.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 765,434 shares of the technology company's stock after purchasing an additional 122,557 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.71% of SBA Communications worth $168,403,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SBAC. Independence Bank of Kentucky bought a new position in shares of SBA Communications during the first quarter valued at $28,000. Stone House Investment Management LLC bought a new position in shares of SBA Communications during the first quarter valued at $33,000. Allworth Financial LP increased 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 valued at $36,000 after acquiring an additional 62 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of SBA Communications by 1,575.0% during 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 in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of SBA Communications during the first quarter valued at $47,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Up 0.6%

Shares of SBA Communications stock traded up $1.13 during trading hours on Tuesday, reaching $199.18. 1,746,399 shares of the stock traded hands, compared to its average volume of 1,318,941. The company has a 50 day moving average price of $218.31 and a 200 day moving average price of $223.85. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.87 and a beta of 0.80. SBA Communications Corporation has a one year low of $186.81 and a one year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating 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 analysts' expectations of $670.73 million. During the same period in the previous year, the firm earned $3.29 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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 payout ratio is presently 56.42%.

Analyst Ratings Changes

A number of brokerages have weighed in on SBAC. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Morgan Stanley boosted their target price on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. UBS Group boosted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays decreased their target price on SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a research report on Monday. Finally, JMP Securities set a $280.00 target price on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Two equities 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $254.44.

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.