Great Lakes Advisors LLC Has $1.06 Million Holdings in SBA Communications Corporation $SBAC

Key Points

• Great Lakes Advisors LLC reduced its stake in SBA Communications Corporation by 28.1% during the first quarter, now owning 4,816 shares valued at approximately $1,060,000.
• Several analysts have updated their ratings and price targets for SBA Communications, with Bank of America lowering the stock to a "neutral" rating and setting a new price target of $230.
• SBA Communications has announced a quarterly dividend of $1.11, scheduled for payment on September 18th, reflecting an annualized yield of 2.2%.

Great Lakes Advisors LLC reduced its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,816 shares of the technology company's stock after selling 1,879 shares during the period. Great Lakes Advisors LLC's holdings in SBA Communications were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SBAC. Independence Bank of Kentucky acquired a new position in SBA Communications in the first quarter valued at about $28,000. Stone House Investment Management LLC bought a new position in shares of SBA Communications in the first quarter worth about $33,000. Allworth Financial LP raised its stake in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after acquiring an additional 62 shares during the last quarter. NBC Securities Inc. raised its stake 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 worth $44,000 after acquiring an additional 189 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of SBA Communications in the first quarter worth about $47,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Barclays boosted their target price on shares of SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. 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 note on Tuesday, July 22nd. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. Finally, Citigroup reissued an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Two investment 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.38.

SBA Communications Stock Performance

NASDAQ:SBAC traded up $0.53 during trading hours on Friday, hitting $199.97. The stock had a trading volume of 1,334,433 shares, compared to its average volume of 1,260,291. SBA Communications Corporation has a one year low of $186.81 and a one year high of $252.64. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.89 and a beta of 0.80. The business's 50 day moving average is $219.72 and its 200-day moving average is $224.12.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same quarter in the prior year, the firm earned $3.29 earnings per share. 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. On average, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

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.