SBA Communications Corporation $SBAC Shares Bought by BROOKFIELD Corp ON

BROOKFIELD Corp ON raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,008,947 shares of the technology company’s stock after purchasing an additional 17,702 shares during the period. SBA Communications comprises 1.3% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 12th biggest position. BROOKFIELD Corp ON’s holdings in SBA Communications were worth $221,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock worth $55,000 after acquiring an additional 45 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of SBA Communications by 5.6% during the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock worth $194,000 after acquiring an additional 47 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of SBA Communications by 2.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company’s stock worth $495,000 after acquiring an additional 50 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 25.8% during the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company’s stock worth $64,000 after acquiring an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC boosted its position in shares of SBA Communications by 6.0% during the 1st quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company’s stock worth $242,000 after acquiring an additional 62 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price objective for the company. in a research report on Tuesday, May 20th. Bank of America lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Scotiabank began coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price target on the stock. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a “strong-buy” rating in a research report on Tuesday, August 5th. Finally, JMP Securities set a $280.00 target price on SBA Communications and gave the stock a “market outperform” 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.38.

SBA Communications Stock Performance

SBAC opened at $199.44 on Friday. The business’s 50-day simple moving average is $220.43 and its 200-day simple moving average is $224.19. SBA Communications Corporation has a one year low of $186.81 and a one year high of $252.64. The stock has a market capitalization of $21.42 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.84 and a beta of 0.80.

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

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a dividend of $1.11 per share. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. SBA Communications’s dividend 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.