1,842 Shares in SBA Communications Corporation $SBAC Purchased by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,842 shares of the technology company’s stock, valued at approximately $433,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC grew its holdings in SBA Communications by 3.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after buying an additional 44 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in SBA Communications by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 46 shares during the period. Advisors Asset Management Inc. grew its stake in shares of SBA Communications by 5.6% in the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock worth $194,000 after purchasing an additional 47 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 20.0% during the second quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after purchasing an additional 50 shares during the period. Finally, Oakworth Capital Inc. raised its stake in shares of SBA Communications by 25.8% during the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company’s stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $198.68 on Friday. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 2.09 and a beta of 0.82. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $247.04. The company has a 50 day moving average price of $199.49 and a 200 day moving average price of $219.08.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million during 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 company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a $1.11 dividend. 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 (DPR) is 56.42%.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. UBS Group dropped their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Finally, JMP Securities set a $280.00 price target on SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $242.40.

SBA Communications Company 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.