Chicago Partners Investment Group LLC Acquires 476 Shares of SBA Communications Corporation $SBAC

Chicago Partners Investment Group LLC increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 22.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,561 shares of the technology company’s stock after purchasing an additional 476 shares during the period. Chicago Partners Investment Group LLC’s holdings in SBA Communications were worth $607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of 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 during the last quarter. Dodge & Cox lifted 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 buying an additional 1,139,009 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 buying an additional 1,715,541 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position 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 buying an additional 135,682 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of SBA Communications by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock worth $436,969,000 after buying an additional 204,902 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. 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 research report on Wednesday, August 27th. UBS Group dropped their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada dropped their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research report on Tuesday, October 14th. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.40.

SBA Communications Price Performance

Shares of SBAC opened at $197.67 on Wednesday. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $247.04. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The business has a 50-day moving average of $200.78 and a 200-day moving average of $219.35.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period last year, the company earned $3.29 earnings per share. The firm’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, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications’s payout ratio 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.