SBA Communications Corporation $SBAC Shares Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. grew its stake in SBA Communications Corporation (NASDAQ:SBAC) by 69.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,506 shares of the technology company’s stock after acquiring an additional 1,442 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in SBA Communications were worth $823,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in SBAC. CVA Family Office LLC increased its holdings in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of SBA Communications during the first quarter worth $33,000. Allworth Financial LP grew its stake in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in SBA Communications during the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBAC. 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. 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. Scotiabank started coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada dropped their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $238.50.

SBA Communications Stock Up 1.0%

Shares of NASDAQ:SBAC opened at $199.42 on Tuesday. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $245.16. The firm’s 50 day moving average price is $194.97 and its 200 day moving average price is $216.87. The stock has a market cap of $21.41 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. During the same period in the prior year, the firm posted $3.32 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be paid a $1.11 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. SBA Communications’s dividend payout ratio (DPR) is currently 57.89%.

SBA Communications 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.