SBA Communications Corporation $SBAC Shares Purchased by CVA Family Office LLC

CVA Family Office LLC raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 106.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 130 shares of the technology company’s stock after purchasing an additional 67 shares during the period. CVA Family Office LLC’s holdings in SBA Communications were worth $31,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SBAC. Stone House Investment Management LLC purchased a new position in shares of SBA Communications in the first quarter worth about $33,000. Allworth Financial LP grew its stake in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in SBA Communications in the 1st quarter worth approximately $47,000. Finally, Summit Securities Group LLC acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.3%

Shares of NASDAQ:SBAC opened at $198.68 on Monday. The company 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 12-month low of $185.45 and a 12-month high of $247.04. The business has a 50-day moving average price of $199.49 and a 200 day moving average price of $219.13.

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

SBA Communications Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on SBAC shares. UBS Group reduced their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Wells Fargo & Company reduced their price target on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Morgan Stanley dropped 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 report on Thursday, October 16th. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Finally, Citigroup decreased their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.40.

About SBA Communications

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.