Callan Family Office LLC Acquires 19,360 Shares of SBA Communications Corporation $SBAC

Callan Family Office LLC grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 238.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,477 shares of the technology company’s stock after purchasing an additional 19,360 shares during the period. Callan Family Office LLC’s holdings in SBA Communications were worth $6,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in SBA Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock worth $3,886,844,000 after buying an additional 268,018 shares in the last quarter. Dodge & Cox grew its position in shares of SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock worth $1,866,843,000 after purchasing an additional 1,139,009 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock worth $1,314,265,000 after acquiring an additional 1,715,541 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of SBA Communications by 7.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock worth $439,310,000 after acquiring an additional 135,682 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in SBA Communications by 11.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock valued at $436,969,000 after purchasing an additional 204,902 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $187.49 on Friday. The company has a 50-day simple moving average of $205.32 and a two-hundred day simple moving average of $220.74. SBA Communications Corporation has a 52-week low of $186.51 and a 52-week high of $252.64. The stock has a market capitalization of $20.13 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $670.73 million. During the same period in the previous year, the business posted $3.29 earnings per share. The firm’s quarterly 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, equities research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were given a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.4%. SBA Communications’s payout ratio is 56.42%.

Analyst Ratings Changes

Several equities analysts have issued reports on SBAC shares. Scotiabank began coverage on shares of SBA Communications in a research report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price target for the company. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Barclays lowered their price objective on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the stock a “strong-buy” rating in a report on Tuesday, August 5th. Finally, UBS Group boosted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.07.

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.