SBA Communications Corporation $SBAC Stock Position Boosted by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,584 shares of the technology company’s stock after buying an additional 2,836 shares during the period. ProShare Advisors LLC’s holdings in SBA Communications were worth $7,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBAC. CVA Family Office LLC boosted its holdings in shares of SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in SBA Communications in the first quarter worth approximately $33,000. Allworth Financial LP boosted its stake in SBA Communications by 62.0% during 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 stake in SBA Communications by 105.0% during 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 shares of SBA Communications during the 1st quarter valued at $47,000. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SBAC shares. BMO Capital Markets decreased their target price on SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. UBS Group cut their price target on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. The Goldman Sachs Group dropped their target price on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Finally, Morgan Stanley reduced their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.50.

SBA Communications Trading Down 0.6%

NASDAQ SBAC opened at $201.63 on Thursday. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The company has a market cap of $21.65 billion, a PE ratio of 25.62, a PEG ratio of 2.01 and a beta of 0.80. The stock’s 50-day moving average price is $195.03 and its two-hundred day moving average price is $216.63.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 13th. SBA Communications’s payout ratio is 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.