IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 543 Shares of SBA Communications Corporation $SBAC

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,827 shares of the technology company’s stock after acquiring an additional 543 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in SBA Communications were worth $1,368,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBAC. GAMMA Investing LLC boosted its holdings in SBA Communications by 38.6% in the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after acquiring an additional 469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in SBA Communications by 11.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,463 shares of the technology company’s stock valued at $3,136,000 after buying an additional 1,450 shares during the period. Amalgamated Bank lifted its stake in SBA Communications by 0.9% in the first quarter. Amalgamated Bank now owns 20,900 shares of the technology company’s stock valued at $4,598,000 after buying an additional 185 shares during the period. Clear Creek Financial Management LLC lifted its stake in SBA Communications by 6.0% in the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company’s stock valued at $242,000 after buying an additional 62 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock valued at $3,146,000 after buying an additional 1,769 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent analyst reports. Scotiabank initiated coverage on SBA Communications in a research note on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price target on the stock. 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 report on Wednesday, October 1st. UBS Group lowered their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Royal Bank Of Canada lowered 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. 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, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $241.07.

SBA Communications Price Performance

NASDAQ SBAC opened at $193.40 on Wednesday. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.08 and a beta of 0.82. The company has a fifty day moving average price of $198.60 and a 200-day moving average price of $218.89.

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 net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the business posted $3.29 EPS. 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, research analysts anticipate 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. Stockholders of record on Thursday, August 21st were given 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 dividend 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.