SBA Communications Corporation $SBAC Stake Boosted by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in SBA Communications Corporation by 146.8%, owning a total of 8,060 shares valued at approximately $1.89 million.
• Analysts have mixed views on SBA Communications, with price targets ranging from $220.00 to $285.00, and a consensus rating of "Moderate Buy."
• SBA Communications recently declared a quarterly dividend of $1.11 per share, representing an annualized yield of 2.3% and a payout ratio of 56.42%.

J. Safra Sarasin Holding AG raised its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 146.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,060 shares of the technology company's stock after purchasing an additional 4,794 shares during the quarter. J. Safra Sarasin Holding AG's holdings in SBA Communications were worth $1,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new stake in shares of SBA Communications in the 1st quarter valued at approximately $302,000. GAMMA Investing LLC grew its stake in shares of SBA Communications by 38.6% in the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after buying an additional 469 shares in the last quarter. Praxis Investment Management Inc. bought a new stake in SBA Communications in the first quarter worth approximately $290,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock worth $3,146,000 after acquiring an additional 1,769 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in SBA Communications by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company's stock worth $1,339,000 after acquiring an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on SBAC shares. Morgan Stanley boosted their target price 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. KeyCorp decreased their price objective on shares of SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. UBS Group upped their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group decreased their target price on SBA Communications from $250.00 to $220.00 and set a "neutral" 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 given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $249.07.

SBA Communications Stock Up 0.2%

Shares of NASDAQ:SBAC opened at $192.09 on Friday. The business has a 50 day moving average price of $208.42 and a 200 day moving average price of $221.63. SBA Communications Corporation has a twelve month low of $186.81 and a twelve month high of $252.64. The company has a market cap of $20.63 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.81 and a beta of 0.82.

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 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 company had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. During the same period in the prior year, the business earned $3.29 earnings per share. SBA Communications'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. Analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a $1.11 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications's dividend payout ratio is 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.

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