Advisors Preferred LLC Invests $2.86 Million in SBA Communications Corporation $SBAC

Advisors Preferred LLC purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,966 shares of the technology company’s stock, valued at approximately $2,857,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Corton Capital Inc. purchased a new position in SBA Communications in the second quarter valued at about $271,000. State of Michigan Retirement System lifted its holdings in SBA Communications by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 29,242 shares of the technology company’s stock worth $6,867,000 after buying an additional 100 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in SBA Communications by 152.0% during the 2nd quarter. iA Global Asset Management Inc. now owns 3,299 shares of the technology company’s stock worth $775,000 after buying an additional 1,990 shares during the last quarter. Earned Wealth Advisors LLC bought a new position in SBA Communications during the 2nd quarter worth approximately $217,000. Finally, Simon Quick Advisors LLC raised its position in shares of SBA Communications by 57.7% during the 2nd quarter. Simon Quick Advisors LLC now owns 2,460 shares of the technology company’s stock worth $578,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SBAC shares. Wells Fargo & Company dropped their price target on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. Citigroup lowered their price target on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. BMO Capital Markets reiterated a “market perform” rating and set a $210.00 price target on shares of SBA Communications in a research report on Tuesday. Royal Bank Of Canada lowered their price target on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Finally, UBS Group lowered their price target on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.93.

SBA Communications Stock Up 1.1%

Shares of SBA Communications stock opened at $193.52 on Tuesday. The stock has a market cap of $20.78 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.82. The business has a fifty day simple moving average of $196.15 and a 200-day simple moving average of $217.92. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. The firm had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. Analysts expect 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 will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. 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.