Allianz Asset Management GmbH Grows Position in SBA Communications Corporation $SBAC

Allianz Asset Management GmbH raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 42.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 15,561 shares of the technology company’s stock after acquiring an additional 4,606 shares during the period. Allianz Asset Management GmbH’s holdings in SBA Communications were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of SBA Communications in the 1st quarter valued at approximately $33,000. Allworth Financial LP grew its stake 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 last quarter. Geneos Wealth Management Inc. grew its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of SBA Communications in the 1st quarter valued at approximately $47,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of SBA Communications in the 1st quarter valued at approximately $47,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank Of Canada lowered their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company lowered their target price on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup lowered their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. The Goldman Sachs Group lowered their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Finally, Morgan Stanley reduced their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $242.40.

SBA Communications Price Performance

SBAC opened at $196.10 on Friday. The business has a 50 day simple moving average of $199.92 and a 200-day simple moving average of $219.07. The stock has a market capitalization of $21.06 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.08 and a beta of 0.82. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $247.04.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. The business had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s payout ratio is currently 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.