J. Safra Sarasin Holding AG Purchases 4,794 Shares of SBA Communications Corporation $SBAC

J. Safra Sarasin Holding AG grew its position in SBA Communications Corporation (NASDAQ:SBAC) by 146.8% in the second quarter, Holdings Channel.com reports. The fund owned 8,060 shares of the technology company’s stock after buying an additional 4,794 shares during the period. J. Safra Sarasin Holding AG’s holdings in SBA Communications were worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in SBA Communications by 1.5% during the first 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 in the last quarter. Dodge & Cox lifted its holdings 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 acquiring an additional 1,139,009 shares during the period. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after purchasing an additional 1,715,541 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in SBA Communications by 7.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock valued at $439,310,000 after purchasing an additional 135,682 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in SBA Communications by 11.5% during the first quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock valued at $436,969,000 after purchasing an additional 204,902 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent analyst reports. KeyCorp decreased their price target on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a research note on Saturday, September 27th. Royal Bank Of Canada reduced their target price on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday. UBS Group boosted their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on shares of SBA Communications from $225.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.07.

SBA Communications Stock Up 0.2%

SBA Communications stock opened at $192.09 on Friday. The stock has a 50-day simple moving average of $208.42 and a 200 day simple moving average of $221.63. SBA Communications Corporation has a 12-month low of $186.81 and a 12-month high of $252.64. The stock has a market capitalization of $20.63 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 1.81 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period in the previous year, the firm posted $3.29 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date 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.