Central Pacific Bank Trust Division Buys 161 Shares of SBA Communications Corporation $SBAC

Central Pacific Bank Trust Division grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,411 shares of the technology company’s stock after buying an additional 161 shares during the period. Central Pacific Bank Trust Division’s holdings in SBA Communications were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independence Bank of Kentucky purchased a new position in shares of SBA Communications in the first quarter valued at $28,000. Stone House Investment Management LLC purchased a new position in shares of SBA Communications in the first quarter valued at $33,000. Allworth Financial LP grew its holdings in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after purchasing an additional 62 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after purchasing an additional 189 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 target price for the company. Citigroup reissued an “outperform” rating on shares of SBA Communications in a report on Tuesday, August 5th. Morgan Stanley lifted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, Bank of America lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $256.38.

SBA Communications Trading Up 0.3%

NASDAQ SBAC opened at $199.97 on Friday. The stock has a market cap of $21.47 billion, a PE ratio of 25.41, a PEG ratio of 1.89 and a beta of 0.80. SBA Communications Corporation has a 12 month low of $186.81 and a 12 month high of $252.64. The company’s 50-day moving average price is $219.72 and its 200-day moving average price is $224.12.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping the consensus estimate of $3.10 by $0.07. The company 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%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

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 paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is 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.