SBA Communications Corporation $SBAC Stake Raised by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC boosted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,948 shares of the technology company’s stock after acquiring an additional 316 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of SBA Communications worth $13,374,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its position in shares of SBA Communications by 42.0% in the second quarter. Allianz Asset Management GmbH now owns 15,561 shares of the technology company’s stock worth $3,654,000 after purchasing an additional 4,606 shares in the last quarter. Rosenberg Matthew Hamilton acquired a new position in SBA Communications in the 2nd quarter valued at approximately $78,000. Generali Asset Management SPA SGR purchased a new stake in SBA Communications in the 2nd quarter worth approximately $1,322,000. Ritholtz Wealth Management lifted its position in SBA Communications by 1.2% in the 2nd quarter. Ritholtz Wealth Management now owns 9,060 shares of the technology company’s stock worth $2,128,000 after buying an additional 104 shares in the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of SBA Communications during the 2nd quarter valued at $257,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $196.26 on Monday. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $248.89. The stock’s 50-day moving average is $201.61 and its two-hundred day moving average is $219.66. The firm has a market cap of $21.07 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.

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

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is 56.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBAC. KeyCorp dropped their price target on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. 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. Royal Bank Of Canada dropped their target price 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. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Finally, Raymond James Financial set a $265.00 price target on SBA Communications and gave the company a “strong-buy” rating in a research note 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.com, the company has an average rating of “Moderate Buy” and an average target price of $243.73.

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.