Vanderbilt University Grows Stake in SBA Communications Corporation $SBAC

Key Points

• Vanderbilt University increased its stake in SBA Communications Corporation by 51.2%, holding 11,199 shares worth approximately $2.63 million at the end of the second quarter.
• Several institutional investors, including JPMorgan Chase & Co. and T. Rowe Price Investment Management, significantly increased their holdings in SBA Communications during the first quarter.
• SBA Communications recently reported Q2 earnings of $3.17 per share, surpassing analyst expectations, and declared a quarterly dividend of $1.11 per share with a yield of 2.3%.

Vanderbilt University raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 51.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,199 shares of the technology company's stock after buying an additional 3,790 shares during the period. Vanderbilt University's holdings in SBA Communications were worth $2,630,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock valued at $1,314,265,000 after purchasing an additional 1,715,541 shares during the period. Dodge & Cox increased its position in shares of SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after purchasing an additional 1,139,009 shares in the last quarter. Nuveen LLC acquired a new position in shares of SBA Communications during the first quarter worth $152,973,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of SBA Communications by 394.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company's stock valued at $88,497,000 after buying an additional 320,819 shares during the last quarter. Finally, Woodline Partners LP grew its holdings in shares of SBA Communications by 1,069.4% during the first quarter. Woodline Partners LP now owns 326,673 shares of the technology company's stock valued at $71,871,000 after buying an additional 298,738 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of SBA Communications from $250.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday. Wells Fargo & Company raised 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. Citigroup restated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the company a "strong-buy" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley raised their price target on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and an average price target of $249.07.

SBA Communications Stock Performance

Shares of SBAC opened at $191.70 on Friday. The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.81 and a beta of 0.82. The company's 50 day simple moving average is $209.26 and its 200 day simple moving average is $221.84. 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 posted its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping 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 company had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same quarter last year, the firm posted $3.29 earnings per share. SBA Communications's revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Equities analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

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