1,478 Shares in SBA Communications Corporation $SBAC Acquired by Brighton Jones LLC

Brighton Jones LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,478 shares of the technology company’s stock, valued at approximately $347,000.

Other institutional investors have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC increased its position in shares of SBA Communications by 3.0% in the second 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 during the period. Janney Montgomery Scott LLC lifted its position in SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 46 shares during the period. Advisors Asset Management Inc. grew its stake in SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock worth $194,000 after buying an additional 47 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in SBA Communications by 20.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after buying an additional 50 shares during the period. Finally, Clear Creek Financial Management LLC increased its holdings in SBA Communications by 6.0% in the 1st 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. 97.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Wells Fargo & Company lowered their price objective on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Scotiabank assumed coverage on SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price for the company. JMP Securities set a $280.00 target price on SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Finally, Raymond James Financial set a $265.00 price target on SBA Communications and gave the company a “strong-buy” rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.07.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $191.14 on Friday. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $245.16. The firm has a market capitalization of $20.52 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.01 and a beta of 0.82. The company’s 50 day moving average price is $197.34 and its two-hundred day moving average price is $218.50.

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, 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 company had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same period in the prior year, the business earned $3.29 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current 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 given a $1.11 dividend. The ex-dividend date 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.