United Services Automobile Association Purchases Shares of 2,650 SBA Communications Corporation $SBAC

United Services Automobile Association acquired a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,650 shares of the technology company’s stock, valued at approximately $575,000.

A number of other large investors also recently made changes to their positions in SBAC. Independence Bank of Kentucky acquired a new position in shares of SBA Communications in the 1st quarter valued at about $28,000. Stone House Investment Management LLC acquired a new position in shares of SBA Communications in the 1st quarter valued at about $33,000. Allworth Financial LP increased its holdings in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after purchasing an additional 62 shares during the period. NBC Securities Inc. increased its holdings in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after purchasing an additional 189 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in shares of SBA Communications in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SBAC shares. JMP Securities set a $280.00 target price on SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Scotiabank assumed coverage on SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price objective on the stock. Wells Fargo & Company increased their price objective on SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley increased their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Two investment 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $256.38.

SBA Communications Trading Up 0.1%

NASDAQ:SBAC opened at $191.47 on Wednesday. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64. The firm’s fifty day simple moving average is $222.02 and its 200 day simple moving average is $224.50. The firm has a market capitalization of $20.56 billion, a PE ratio of 24.33, a PEG ratio of 1.82 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period last year, the business posted $3.29 EPS. SBA Communications’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is presently 56.42%.

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.