Swedbank AB Grows Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• Swedbank AB increased its stake in SBA Communications Corporation by 11% during the second quarter, now holding 87,814 shares valued at approximately $20.62 million.
• SBA Communications reported a 5.8% year-over-year increase in revenue, totaling $698.98 million, and beat EPS estimates for the quarter with $3.17.
• The company declared a quarterly dividend of $1.11 per share, reflecting an annualized dividend yield of 2.2% with a payout ratio of 56.42%.

Swedbank AB increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,814 shares of the technology company's stock after buying an additional 8,716 shares during the quarter. Swedbank AB owned about 0.08% of SBA Communications worth $20,622,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SBAC. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after acquiring an additional 1,715,541 shares during the period. Dodge & Cox lifted its position in SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the period. Nuveen LLC acquired a new stake in SBA Communications in the first quarter valued at about $152,973,000. GAMMA Investing LLC increased its holdings in SBA Communications by 30,393.6% in the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after buying an additional 369,282 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of SBA Communications by 394.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company's stock worth $88,497,000 after purchasing an additional 320,819 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 0.1%

Shares of NASDAQ:SBAC opened at $199.10 on Friday. The firm has a market cap of $21.38 billion, a P/E ratio of 25.30, a P/E/G ratio of 1.88 and a beta of 0.80. SBA Communications Corporation has a 12 month low of $186.81 and a 12 month high of $252.64. The company's 50-day moving average price is $216.34 and its two-hundred day moving average price is $223.41.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (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 company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same quarter last year, the firm earned $3.29 EPS. 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. As a group, equities analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a $1.11 dividend. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. SBA Communications's dividend payout ratio (DPR) is 56.42%.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of analyst reports. Morgan Stanley raised 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. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the stock a "strong-buy" rating in a research note on Tuesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. KeyCorp reduced their target price on shares of SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $251.63.

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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