Union Bancaire Privee UBP SA Makes New Investment in SBA Communications Corporation $SBAC

Key Points

• Union Bancaire Privee UBP SA purchased a new position in SBA Communications Corporation, acquiring 8,400 shares valued at approximately $1.97 million during the second quarter.
• SBA Communications reported a quarterly earnings per share of $3.17, exceeding analyst expectations of $3.10, and achieved a revenue of $698.98 million, marking a 5.8% increase year-over-year.
• The company declared a quarterly dividend of $1.11 per share, resulting in an annualized dividend yield of 2.3% and a payout ratio of 56.42%.

Union Bancaire Privee UBP SA bought a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,400 shares of the technology company's stock, valued at approximately $1,973,000.

Several other large investors have also recently added to or reduced their stakes in SBAC. Independence Bank of Kentucky bought a new position in SBA Communications during the first quarter worth $28,000. Stone House Investment Management LLC bought a new position in shares of SBA Communications in the 1st quarter worth about $33,000. Allworth Financial LP lifted its position in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after buying an additional 84 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SBAC. Citigroup reissued an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Scotiabank initiated coverage on SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. UBS Group raised their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JMP Securities set a $280.00 target price on SBA Communications and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company raised their target price on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, SBA Communications has an average rating of "Moderate Buy" and a consensus target price of $252.57.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $193.35 on Wednesday. The business's fifty day moving average price is $211.03 and its two-hundred day moving average price is $222.26. The company has a market capitalization of $20.76 billion, a P/E ratio of 24.57, a PEG ratio of 1.85 and a beta of 0.80. SBA Communications Corporation has a 1-year low of $186.81 and a 1-year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. During the same period in the previous year, the business earned $3.29 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal 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 given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications's 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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