Ameriprise Financial Inc. Raises Stake in SBA Communications Corporation $SBAC

Ameriprise Financial Inc. raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 970,058 shares of the technology company’s stock after buying an additional 16,699 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.90% of SBA Communications worth $213,422,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new position in shares of SBA Communications during the 1st quarter worth $28,000. Stone House Investment Management LLC purchased a new position in shares of SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP grew its holdings in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after purchasing an additional 62 shares during the period. NBC Securities Inc. grew its holdings in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after purchasing an additional 189 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of SBA Communications during the 1st quarter worth $47,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.9%

SBAC opened at $222.87 on Friday. The stock’s 50-day moving average price is $228.85 and its 200 day moving average price is $224.70. SBA Communications Corporation has a 12-month low of $192.55 and a 12-month high of $252.64. The firm has a market cap of $23.93 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.03 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last posted its 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. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the company earned $3.29 EPS. SBA Communications’s revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets increased their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price target for the company. in a report on Tuesday, May 20th. Scotiabank assumed coverage on SBA Communications in a report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price target for the company. JMP Securities set a $280.00 price target on SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Finally, UBS Group increased their target price on SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $258.25.

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.