Vident Advisory LLC Raises Stake in SBA Communications Corporation $SBAC

Key Points

• Vident Advisory LLC significantly increased its stake in SBA Communications, acquiring an additional 15,016 shares, bringing its total holdings to 16,105 shares worth approximately $3.54 million.
• SBA Communications recently announced a quarterly dividend of $1.11, with a dividend yield of 2.2% and a payout ratio of 56.42%.
• In its latest earnings report, SBA Communications reported an EPS of $3.17 and revenue of $698.98 million, exceeding analysts' expectations.

Vident Advisory LLC increased its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1,378.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,105 shares of the technology company's stock after purchasing an additional 15,016 shares during the period. Vident Advisory LLC's holdings in SBA Communications were worth $3,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in shares of SBA Communications in the 1st quarter valued at about $28,000. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications in the 1st quarter valued at about $33,000. Allworth Financial LP lifted its holdings 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 valued at $36,000 after purchasing an additional 62 shares during the last quarter. NBC Securities Inc. lifted its holdings 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 valued at $44,000 after purchasing an additional 189 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in SBA Communications during the 1st quarter valued at approximately $47,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SBAC. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the company a "strong-buy" rating in a research note on Tuesday, August 5th. Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. UBS Group boosted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their target price on 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, Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $256.38.

SBA Communications Stock Performance

SBAC stock traded down $2.69 on Wednesday, reaching $199.31. The company had a trading volume of 1,316,040 shares, compared to its average volume of 875,004. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The company's fifty day moving average is $225.87 and its 200 day moving average is $224.97. The company has a market cap of $21.40 billion, a P/E ratio of 25.33, a PEG ratio of 1.94 and a beta of 0.80.

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

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications's dividend payout ratio is 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.