Ritholtz Wealth Management Grows Stock Holdings in SBA Communications Corporation $SBAC

Ritholtz Wealth Management grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,060 shares of the technology company’s stock after purchasing an additional 104 shares during the quarter. Ritholtz Wealth Management’s holdings in SBA Communications were worth $2,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new position in shares of SBA Communications during the first quarter valued at about $302,000. Avanza Fonder AB grew its stake in shares of SBA Communications by 37.3% during the second quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock valued at $2,063,000 after buying an additional 2,386 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after buying an additional 469 shares during the last quarter. Praxis Investment Management Inc. bought a new position in shares of SBA Communications during the first quarter valued at about $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of SBA Communications by 14.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock valued at $3,146,000 after buying an additional 1,769 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

SBAC stock opened at $197.42 on Friday. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $248.89. The business’s 50 day moving average price is $202.10 and its two-hundred day moving average price is $219.90. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. SBA Communications’s dividend payout ratio is 56.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBAC. JMP Securities set a $280.00 price objective on SBA Communications and gave the company a “market outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday. Royal Bank Of Canada cut their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Barclays reduced their price target on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Finally, Raymond James Financial set a $265.00 price target on SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.73.

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.