SBA Communications Corporation $SBAC Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,058 shares of the technology company’s stock after purchasing an additional 16,699 shares during the period. Ameriprise Financial Inc.’s holdings in SBA Communications were worth $213,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in SBA Communications in the 1st quarter valued at about $28,000. Stone House Investment Management LLC acquired a new stake in shares of SBA Communications during the 1st quarter worth about $33,000. Allworth Financial LP raised its position in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after acquiring an additional 62 shares in the last quarter. NBC Securities Inc. raised its position in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of SBA Communications during the 1st quarter worth about $47,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBAC. Citigroup reissued an “outperform” rating on shares of SBA Communications in a research report on Tuesday, August 5th. Wells Fargo & Company raised their target price on SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. JMP Securities set a $280.00 target price on SBA Communications and gave the stock a “market outperform” rating in a research report on Tuesday, August 5th. UBS Group raised their target price on SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley raised their target price on SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.25.

SBA Communications Stock Up 0.9%

NASDAQ:SBAC opened at $222.87 on Friday. The stock’s 50 day moving average price is $228.85 and its 200 day moving average price is $224.70. The company has a market capitalization of $23.93 billion, a PE ratio of 28.32, a P/E/G ratio of 2.03 and a beta of 0.77. SBA Communications Corporation has a 52-week low of $192.55 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 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 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is 56.42%.

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.