Vontobel Holding Ltd. Makes New Investment in SBA Communications Corporation $SBAC

Key Points

• Vontobel Holding Ltd. acquired 1,928 shares of SBA Communications Corporation, valued at approximately $453,000, as part of its new position in the company during the 2nd quarter.
• SBA Communications reported earnings of $3.17 per share for the most recent quarter, surpassing analysts' expectations of $3.10, with revenue of $698.98 million compared to an estimate of $670.73 million.
• The company announced a quarterly dividend of $1.11, which gives it an annualized payout of $4.44 and a yield of 2.3%, while its dividend payout ratio stands at 56.42%.

Vontobel Holding Ltd. bought a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,928 shares of the technology company's stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maryland State Retirement & Pension System grew its stake in SBA Communications by 6.1% in the 2nd quarter. Maryland State Retirement & Pension System now owns 102,053 shares of the technology company's stock worth $23,966,000 after acquiring an additional 5,850 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of SBA Communications during the 2nd quarter worth $203,000. Checchi Capital Advisers LLC increased its holdings in shares of SBA Communications by 29.0% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,320 shares of the technology company's stock worth $545,000 after buying an additional 521 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of SBA Communications by 19.0% during the 2nd quarter. QRG Capital Management Inc. now owns 9,034 shares of the technology company's stock worth $2,121,000 after buying an additional 1,445 shares during the last quarter. Finally, Vanderbilt University increased its holdings in shares of SBA Communications by 51.2% during the 2nd quarter. Vanderbilt University now owns 11,199 shares of the technology company's stock worth $2,630,000 after buying an additional 3,790 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Up 1.6%

Shares of SBA Communications stock opened at $191.07 on Wednesday. The company has a fifty day moving average price of $203.12 and a 200 day moving average price of $220.23. SBA Communications Corporation has a twelve month low of $185.45 and a twelve month high of $252.64. The stock has a market cap of $20.52 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.98 and a beta of 0.82.

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

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications's dividend payout ratio is presently 56.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SBAC shares. Morgan Stanley upped their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Barclays dropped their price objective on SBA Communications from $257.00 to $226.00 and set an "overweight" rating for the company in a report on Monday, September 15th. Citigroup restated an "outperform" rating on shares of SBA Communications in a report on Tuesday, August 5th. The Goldman Sachs Group dropped their price objective on SBA Communications from $250.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, October 1st. Finally, Scotiabank began coverage on SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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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