Parcion Private Wealth LLC Buys Shares of 1,001 SBA Communications Corporation $SBAC

Parcion Private Wealth LLC purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,001 shares of the technology company’s stock, valued at approximately $235,000.

Other hedge funds also recently modified their holdings of the company. Avanza Fonder AB increased its position in SBA Communications by 37.3% during the second quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock worth $2,063,000 after acquiring an additional 2,386 shares during the period. GAMMA Investing LLC grew its position in SBA Communications by 38.6% in the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock worth $370,000 after purchasing an additional 469 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of SBA Communications by 14.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock worth $3,146,000 after purchasing an additional 1,769 shares during the period. Janney Montgomery Scott LLC raised its position in shares of SBA Communications by 11.1% during the first quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after buying an additional 608 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of SBA Communications by 111.1% during the first quarter. Jump Financial LLC now owns 2,920 shares of the technology company’s stock valued at $642,000 after buying an additional 1,537 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

Shares of SBAC stock opened at $197.38 on Thursday. The stock’s fifty day simple moving average is $200.34 and its 200 day simple moving average is $219.20. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.08 and a beta of 0.82. SBA Communications Corporation has a one year low of $185.45 and a one year high of $247.04.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period 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 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were issued 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 was Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

Analyst Ratings Changes

A number of research firms recently weighed in on SBAC. Citigroup decreased their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. KeyCorp decreased their price objective on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company lowered their price objective on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday. Barclays reduced their target price on SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Finally, UBS Group lowered their price target on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.40.

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.