UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 67,261 Shares of SBA Communications Corporation $SBAC

Key Points

• UBS Asset Management increased its holdings in SBA Communications Corporation by 7.5%, bringing its total ownership to 965,621 shares valued at approximately $212.4 million.
• Analyst ratings have varied, with Barclays raising its target price to $257, while Bank of America downgraded its rating to neutral and reduced the price objective to $230.
• SBA Communications reported earnings of $3.17 per share for the last quarter, exceeding estimates, and plans to pay a quarterly dividend of $1.11 per share starting September 18th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 965,621 shares of the technology company's stock after buying an additional 67,261 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.90% of SBA Communications worth $212,446,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SBAC. Baird Financial Group Inc. raised its stake in SBA Communications by 25.2% during the fourth quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock valued at $498,000 after buying an additional 492 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of SBA Communications by 56.0% in the fourth quarter. Captrust Financial Advisors now owns 6,738 shares of the technology company's stock worth $1,373,000 after purchasing an additional 2,420 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of SBA Communications in the fourth quarter worth $605,000. Janus Henderson Group PLC raised its stake in shares of SBA Communications by 5.6% in the fourth quarter. Janus Henderson Group PLC now owns 182,792 shares of the technology company's stock worth $37,260,000 after purchasing an additional 9,688 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of SBA Communications by 20.5% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,517 shares of the technology company's stock worth $921,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Performance

SBAC stock traded up $2.13 during midday trading on Wednesday, reaching $201.31. 180,203 shares of the company traded hands, compared to its average volume of 919,939. The business has a 50 day moving average of $218.31 and a 200-day moving average of $223.85. SBA Communications Corporation has a 52-week low of $186.81 and a 52-week high of $252.64. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.87 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $3.29 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio is presently 56.42%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Scotiabank assumed coverage on SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target for the company. Bank of America cut SBA Communications from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $260.00 to $230.00 in a research report on Wednesday, August 27th. JMP Securities set a $280.00 price objective on SBA Communications and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Finally, KeyCorp reduced their price objective on SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday. Two equities 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 stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.63.

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.