SYM FINANCIAL Corp Buys Shares of 880 SBA Communications Corporation $SBAC

SYM FINANCIAL Corp purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, Holdings Channel.com reports. The fund purchased 880 shares of the technology company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently made changes to their positions in SBAC. CVA Family Office LLC raised its holdings in SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares in the last quarter. Stone House Investment Management LLC bought a new position in SBA Communications during the 1st quarter valued at $33,000. Allworth Financial LP raised its stake in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after buying an additional 62 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of SBA Communications in the first quarter valued at $47,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Royal Bank Of Canada dropped their target price on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. UBS Group dropped their target price on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. KeyCorp dropped their target price on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Finally, Raymond James Financial set a $265.00 price objective on SBA Communications and gave the company a “strong-buy” 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. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $241.07.

SBA Communications Trading Down 2.0%

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 stock’s 50-day moving average price is $198.60 and its two-hundred day moving average price is $218.89. The company has a market cap of $20.77 billion, a PE ratio of 24.57, a PEG ratio of 2.08 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, beating 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 quarter in the previous year, the business earned $3.29 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

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.