AlphaQuest LLC Boosts Stake in SBA Communications Corporation $SBAC

AlphaQuest LLC raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 9.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,573 shares of the technology company’s stock after purchasing an additional 488 shares during the period. AlphaQuest LLC’s holdings in SBA Communications were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in SBA Communications by 0.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,547 shares of the technology company’s stock valued at $52,733,000 after buying an additional 810 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in SBA Communications in the 2nd quarter valued at about $106,000. Asset Management One Co. Ltd. boosted its position in SBA Communications by 0.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 45,321 shares of the technology company’s stock valued at $10,643,000 after buying an additional 348 shares during the last quarter. Ethic Inc. lifted its position in shares of SBA Communications by 32.0% during the second quarter. Ethic Inc. now owns 8,192 shares of the technology company’s stock worth $1,891,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Parcion Private Wealth LLC bought a new position in shares of SBA Communications during the second quarter worth about $235,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SBAC shares. Royal Bank Of Canada reduced their price target on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research report on Tuesday, October 14th. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a “market outperform” rating in a research report on Tuesday, August 5th. Finally, Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the stock a “strong-buy” rating in a research report on Tuesday, August 5th. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.40.

SBA Communications Stock Up 1.3%

SBAC opened at $198.68 on Friday. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $247.04. The company’s 50-day moving average price is $199.49 and its 200 day moving average price is $219.01.

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

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications’s payout ratio is 56.42%.

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.