Vanguard Personalized Indexing Management LLC Acquires 3,826 Shares of SBA Communications Corporation $SBAC

Vanguard Personalized Indexing Management LLC increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 38.9% in the second quarter, Holdings Channel.com reports. The firm owned 13,659 shares of the technology company’s stock after purchasing an additional 3,826 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in SBA Communications were worth $3,208,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. NorthCrest Asset Manangement LLC increased its stake in SBA Communications by 3.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after purchasing an additional 44 shares in the last quarter. Farther Finance Advisors LLC grew its stake 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. Janney Montgomery Scott LLC grew its stake in shares of SBA Communications by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 46 shares in the last quarter. Advisors Asset Management Inc. grew its stake 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. Finally, Oakworth Capital Inc. grew its stake 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. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several research reports. Scotiabank initiated 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 for the company. Wells Fargo & Company raised their price target on shares of SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. 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 note on Tuesday, August 5th. Finally, UBS Group cut their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $191.07 on Wednesday. The business has a fifty day simple moving average of $203.12 and a two-hundred day simple moving average of $220.23. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $252.64. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 1.98 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $670.73 million. During the same quarter last year, the firm posted $3.29 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm 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. 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 dividend payout ratio (DPR) 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.