SBA Communications Corporation $SBAC Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 14.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,025 shares of the technology company’s stock after buying an additional 57,721 shares during the quarter. Russell Investments Group Ltd.’s holdings in SBA Communications were worth $105,599,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SBAC. CVA Family Office LLC raised its position in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. Stone House Investment Management LLC acquired a new position in SBA Communications in the first quarter worth $33,000. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in SBA Communications during the first quarter valued at $47,000. Finally, Summit Securities Group LLC acquired a new stake in shares of SBA Communications during the first quarter worth $47,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. UBS Group cut 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. JMP Securities set a $280.00 target price on SBA Communications and gave the company a “market outperform” rating in a research note on Tuesday, August 5th. Barclays lowered their target price on SBA Communications from $226.00 to $219.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, TD Cowen cut their price target on SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.06.

SBA Communications Price Performance

Shares of SBAC stock opened at $194.79 on Thursday. SBA Communications Corporation has a 12-month low of $185.45 and a 12-month high of $245.16. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. The business has a 50 day simple moving average of $194.77 and a 200 day simple moving average of $213.57.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. During the same quarter in the previous year, the business earned $3.32 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s dividend payout ratio is presently 57.89%.

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.