Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in SBA Communications Corporation $SBAC

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,463 shares of the technology company’s stock after purchasing an additional 11,407 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of SBA Communications worth $48,955,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC lifted its stake in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the period. Stone House Investment Management LLC purchased a new position in SBA Communications during the first quarter worth about $33,000. Allworth Financial LP boosted its holdings in 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 in the last quarter. Geneos Wealth Management Inc. boosted its holdings in SBA Communications by 105.0% in the 1st 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, Summit Securities Group LLC acquired a new position in SBA Communications during the 1st quarter worth approximately $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBAC. JMP Securities set a $280.00 price target on SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Raymond James Financial set a $265.00 target price on SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a research note on Tuesday, November 4th. Finally, 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 report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.50.

SBA Communications Price Performance

SBAC stock opened at $199.42 on Tuesday. The company’s 50 day simple moving average is $194.97 and its 200-day simple moving average is $216.87. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $245.16. The firm has a market capitalization of $21.41 billion, a PE ratio of 25.34, a P/E/G ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. The firm had revenue of $732.33 million for the quarter, compared to analyst estimates of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.SBA Communications’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

SBA Communications 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.