1,393 Shares in SBA Communications Corporation $SBAC Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,393 shares of the technology company’s stock, valued at approximately $327,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake 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 raised its stake in SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock valued at $1,866,843,000 after buying an additional 1,139,009 shares during the period. Nuveen LLC bought a new stake in SBA Communications in the first quarter valued at approximately $152,973,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of SBA Communications by 394.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 402,237 shares of the technology company’s stock worth $88,497,000 after acquiring an additional 320,819 shares during the last quarter. Finally, Woodline Partners LP increased its holdings in shares of SBA Communications by 1,069.4% during the 1st quarter. Woodline Partners LP now owns 326,673 shares of the technology company’s stock worth $71,871,000 after acquiring an additional 298,738 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $196.26 on Friday. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $248.89. The firm has a market cap of $21.07 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.08 and a beta of 0.82. The firm’s 50-day simple moving average is $201.61 and its 200 day simple moving average is $219.73.

SBA Communications (NASDAQ:SBAC) last announced its 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. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the business posted $3.29 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

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

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday. Barclays cut their target price on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Royal Bank Of Canada lowered their price target on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Finally, Wells Fargo & Company upped their target price on SBA Communications from $225.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, SBA Communications presently has a consensus 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.