Vanguard Personalized Indexing Management LLC Purchases 3,826 Shares of SBA Communications Corporation $SBAC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in SBA Communications Corporation by 38.9%, acquiring an additional 3,826 shares, bringing its total holdings to over 13,000 shares valued at approximately $3.2 million.
• SBA Communications reported $3.17 earnings per share for its last quarter, exceeding analysts' expectations, with revenue reaching $698.98 million, a 5.8% increase year-over-year.
• The company recently declared a quarterly dividend of $1.11 per share, providing an annualized dividend yield of 2.3%.

Vanguard Personalized Indexing Management LLC lifted its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 38.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,659 shares of the technology company's stock after purchasing an additional 3,826 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in SBA Communications were worth $3,208,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBAC. Farther Finance Advisors LLC grew its holdings in shares of SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares during the last quarter. GAMMA Investing LLC lifted its position in SBA Communications by 38.6% during the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock worth $370,000 after buying an additional 469 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in SBA Communications by 2.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,615 shares of the technology company's stock worth $1,015,000 after buying an additional 110 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in SBA Communications by 75.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company's stock worth $3,215,000 after buying an additional 6,272 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in SBA Communications during the 1st quarter worth about $1,970,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $191.07 on Wednesday. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 1.98 and a beta of 0.82. The firm's 50 day simple moving average is $203.12 and its 200 day simple moving average is $220.23. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a $1.11 dividend. 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 dividend payout ratio (DPR) is currently 56.42%.

Analysts Set New Price Targets

SBAC has been the topic of several research reports. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Bank of America downgraded shares of SBA Communications from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. 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 report on Tuesday, August 5th. Morgan Stanley upped their price target 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. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.40.

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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