SBA Communications Corporation $SBAC Stock Holdings Lifted by Vanderbilt University

Vanderbilt University lifted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 51.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,199 shares of the technology company’s stock after buying an additional 3,790 shares during the quarter. Vanderbilt University’s holdings in SBA Communications were worth $2,630,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SBAC. JPMorgan Chase & Co. lifted its position in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after purchasing an additional 1,715,541 shares during the last quarter. Dodge & Cox lifted its position in SBA Communications by 15.5% in the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the last quarter. Nuveen LLC bought a new stake in SBA Communications in the 1st quarter valued at about $152,973,000. T. Rowe Price Investment Management Inc. lifted its position in SBA Communications by 394.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company’s stock valued at $88,497,000 after purchasing an additional 320,819 shares during the last quarter. Finally, Woodline Partners LP increased its stake in SBA Communications by 1,069.4% during the 1st quarter. Woodline Partners LP now owns 326,673 shares of the technology company’s stock valued at $71,871,000 after buying an additional 298,738 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Down 0.0%

SBAC stock opened at $191.70 on Friday. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64. The company has a 50 day moving average of $209.26 and a two-hundred day moving average of $221.84. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.81 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. The firm had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have commented on SBAC. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. Scotiabank initiated coverage on shares of SBA Communications in a research note on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price objective on the stock. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group lowered their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada lowered their price objective on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $249.07.

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.