SBA Communications Corporation $SBAC Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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 increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 965,621 shares of the technology company's stock after acquiring an additional 67,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.90% of SBA Communications worth $212,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in SBA Communications by 5.6% in the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock valued at $194,000 after purchasing an additional 47 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in SBA Communications by 2.3% in the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after purchasing an additional 50 shares during the last quarter. Oakworth Capital Inc. grew its holdings in SBA Communications by 25.8% in the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after purchasing an additional 60 shares during the last quarter. Finally, Clear Creek Financial Management LLC grew its holdings in SBA Communications by 6.0% in the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock valued at $242,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays upped their target price on SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Citigroup reissued an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Bank of America downgraded 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. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.38.

SBA Communications Trading Up 3.0%

NASDAQ SBAC opened at $199.44 on Friday. The business's 50-day moving average price is $220.43 and its 200 day moving average price is $224.19. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The company has a market capitalization of $21.42 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.84 and a beta of 0.80.

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, 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 firm's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications's dividend payout ratio is 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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