Valeo Financial Advisors LLC Invests $203,000 in SBA Communications Corporation $SBAC

Valeo Financial Advisors LLC purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 865 shares of the technology company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake in shares of SBA Communications by 29.0% during the second quarter. Checchi Capital Advisers LLC now owns 2,320 shares of the technology company’s stock valued at $545,000 after purchasing an additional 521 shares during the period. QRG Capital Management Inc. grew its holdings in SBA Communications by 19.0% during the 2nd quarter. QRG Capital Management Inc. now owns 9,034 shares of the technology company’s stock valued at $2,121,000 after purchasing an additional 1,445 shares in the last quarter. Vanderbilt University grew its holdings in SBA Communications by 51.2% during the 2nd quarter. Vanderbilt University now owns 11,199 shares of the technology company’s stock valued at $2,630,000 after purchasing an additional 3,790 shares in the last quarter. Hilltop National Bank acquired a new stake in SBA Communications during the 2nd quarter valued at $142,000. Finally, J. Safra Sarasin Holding AG boosted its position in SBA Communications by 146.8% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 8,060 shares of the technology company’s stock valued at $1,893,000 after buying an additional 4,794 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SBAC shares. KeyCorp decreased their price objective on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a report on Saturday, September 27th. JMP Securities set a $280.00 price objective on SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Royal Bank Of Canada decreased their price target on shares of SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Finally, Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $249.07.

SBA Communications Price Performance

Shares of SBAC opened at $189.10 on Friday. The stock has a market capitalization of $20.31 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.97 and a beta of 0.82. SBA Communications Corporation has a 12-month low of $185.70 and a 12-month high of $252.64. The business’s fifty day moving average price is $204.53 and its 200 day moving average price is $220.57.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping 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 company had revenue of $698.98 million for the quarter, compared to analysts’ expectations of $670.73 million. During the same period in the prior year, the company 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. As a group, research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

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.