Crescent Park Management L.P. Boosts Position in SBA Communications Corporation $SBAC

Crescent Park Management L.P. raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 3.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 71,043 shares of the technology company’s stock after buying an additional 2,684 shares during the quarter. SBA Communications makes up about 7.3% of Crescent Park Management L.P.’s investment portfolio, making the stock its 2nd largest holding. Crescent Park Management L.P. owned about 0.07% of SBA Communications worth $15,630,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in SBA Communications in the first quarter valued at $28,000. Stone House Investment Management LLC bought a new stake in SBA Communications in the first quarter valued at $33,000. Allworth Financial LP lifted its stake in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares during the last quarter. NBC Securities Inc. lifted its stake in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after buying an additional 189 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in SBA Communications in the first quarter valued at $47,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 0.9%

SBAC stock opened at $222.87 on Friday. The company has a market capitalization of $23.93 billion, a P/E ratio of 28.32, a PEG ratio of 2.03 and a beta of 0.77. The company has a 50-day simple moving average of $228.85 and a 200 day simple moving average of $224.70. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 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 for the quarter, compared to analysts’ expectations of $670.73 million. During the same period in the previous year, the business earned $3.29 earnings per share. SBA Communications’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. Equities analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a $1.11 dividend. The ex-dividend date is Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.0%. SBA Communications’s payout ratio is 56.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBAC shares. Scotiabank started coverage on SBA Communications in a research note on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 target price on the stock. Barclays lifted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed an “outperform” rating on shares of SBA Communications in a report on Tuesday, August 5th. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company upped their price objective on shares of SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.25.

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.