Oppenheimer Asset Management Inc. Acquires 4,504 Shares of SBA Communications Corporation $SBAC

Oppenheimer Asset Management Inc. lifted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 226.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,489 shares of the technology company’s stock after purchasing an additional 4,504 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SBA Communications were worth $1,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of SBAC. Avanza Fonder AB grew its stake in shares of SBA Communications by 37.3% during the 2nd quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock valued at $2,063,000 after acquiring an additional 2,386 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in SBA Communications by 14.1% during 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 purchasing an additional 1,769 shares in the last quarter. Jump Financial LLC boosted its position in shares of SBA Communications by 111.1% in the first quarter. Jump Financial LLC now owns 2,920 shares of the technology company’s stock worth $642,000 after purchasing an additional 1,537 shares during the period. XTX Topco Ltd purchased a new stake in shares of SBA Communications in the first quarter worth $2,865,000. Finally, Circle Wealth Management LLC raised its position in shares of SBA Communications by 75.8% during the 1st quarter. Circle Wealth Management LLC now owns 5,785 shares of the technology company’s stock valued at $1,273,000 after purchasing an additional 2,494 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

NASDAQ:SBAC opened at $191.14 on Friday. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.01 and a beta of 0.82. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The stock’s 50 day simple moving average is $197.34 and its two-hundred day simple moving average is $218.50.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

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. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is presently 56.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SBAC shares. Scotiabank began coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 target price for the company. Citigroup dropped their price objective on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. The Goldman Sachs Group cut their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. 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 dropped their price target on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.07.

About SBA Communications

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.