Mufg Securities Americas Inc. Increases Stake in SBA Communications Corporation $SBAC

Mufg Securities Americas Inc. lifted its position in SBA Communications Corporation (NASDAQ:SBAC) by 25.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,381 shares of the technology company’s stock after acquiring an additional 477 shares during the period. Mufg Securities Americas Inc.’s holdings in SBA Communications were worth $559,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in SBA Communications by 3.2% in the second quarter. Legal & General Group Plc now owns 1,343,024 shares of the technology company’s stock worth $315,396,000 after purchasing an additional 41,671 shares during the last quarter. MAI Capital Management raised its holdings in shares of SBA Communications by 7.9% in the second quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after buying an additional 50 shares during the period. DNB Asset Management AS lifted its stake in shares of SBA Communications by 7.7% during the 2nd quarter. DNB Asset Management AS now owns 19,602 shares of the technology company’s stock worth $4,603,000 after acquiring an additional 1,402 shares during the last quarter. Swiss National Bank boosted its holdings in SBA Communications by 7.8% during the 2nd quarter. Swiss National Bank now owns 327,000 shares of the technology company’s stock valued at $76,793,000 after acquiring an additional 23,700 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in SBA Communications by 3.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 69,545 shares of the technology company’s stock valued at $16,332,000 after acquiring an additional 2,585 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBAC. KeyCorp reduced their target price on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Tuesday, October 14th. UBS Group reduced their target price on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Finally, TD Cowen decreased their price target on shares of SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $238.06.

SBA Communications Stock Performance

NASDAQ SBAC opened at $195.02 on Monday. SBA Communications Corporation has a one year low of $185.45 and a one year high of $245.16. The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. The company’s 50-day simple moving average is $195.08 and its two-hundred day simple moving average is $214.34.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.09. The firm had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is currently 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.