SBA Communications Corporation $SBAC Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,912 shares of the technology company’s stock after purchasing an additional 405 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in SBA Communications were worth $1,389,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of SBA Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock valued at $3,886,844,000 after acquiring an additional 268,018 shares during the period. Dodge & Cox grew its position 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 valued at $1,866,843,000 after acquiring an additional 1,139,009 shares during the period. JPMorgan Chase & Co. grew its position in shares of SBA Communications by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after acquiring an additional 1,715,541 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of SBA Communications by 7.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock valued at $439,310,000 after acquiring an additional 135,682 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of SBA Communications by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock valued at $436,969,000 after acquiring an additional 204,902 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 0.9%

SBAC stock opened at $189.10 on Friday. SBA Communications Corporation has a 12-month low of $185.70 and a 12-month high of $252.64. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.97 and a beta of 0.82. The business’s 50-day moving average is $204.53 and its 200 day moving average is $220.57.

SBA Communications (NASDAQ:SBAC) last released 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 business had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period last year, the company posted $3.29 EPS. The business’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, equities analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBAC. Wells Fargo & Company raised their target price on SBA Communications from $225.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. JMP Securities set a $280.00 target price on SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a research report on Saturday, September 27th. Raymond James Financial set a $265.00 price objective on SBA Communications and gave the stock a “strong-buy” rating in a report on Tuesday, August 5th. Finally, KeyCorp lowered their price objective on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Two investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.07.

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.