Wealthfront Advisers LLC Purchases 11,746 Shares of SBA Communications Corporation $SBAC

Wealthfront Advisers LLC lifted its position in SBA Communications Corporation (NASDAQ:SBAC) by 28.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,538 shares of the technology company’s stock after purchasing an additional 11,746 shares during the quarter. Wealthfront Advisers LLC’s holdings in SBA Communications were worth $12,338,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of SBA Communications by 226.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,489 shares of the technology company’s stock worth $1,524,000 after purchasing an additional 4,504 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of SBA Communications in the 2nd quarter worth about $347,000. CVA Family Office LLC grew its holdings in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs increased its position in SBA Communications by 14.2% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 6,795 shares of the technology company’s stock valued at $1,596,000 after acquiring an additional 846 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in SBA Communications in the 2nd quarter valued at about $490,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SBAC shares. Royal Bank Of Canada lowered their price objective on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Wells Fargo & Company lowered their price objective 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. UBS Group lowered their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Citigroup lowered their price objective on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group lowered their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.40.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $198.68 on Monday. SBA Communications Corporation has a one year low of $185.45 and a one year high of $247.04. The company has a 50 day moving average of $199.49 and a 200-day moving average of $219.13. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.09 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping the consensus estimate 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 company had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. During the same quarter in the previous year, the company earned $3.29 EPS. SBA Communications’s revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is presently 56.42%.

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.