SBA Communications Corporation $SBAC Shares Acquired by Cresset Asset Management LLC

Cresset Asset Management LLC grew its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,578 shares of the technology company’s stock after purchasing an additional 414 shares during the quarter. Cresset Asset Management LLC’s holdings in SBA Communications were worth $1,007,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SBAC. Mariner LLC boosted its position in SBA Communications by 17.6% during the fourth quarter. Mariner LLC now owns 6,118 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 917 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of SBA Communications by 23.9% in the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company’s stock valued at $260,000 after purchasing an additional 246 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of SBA Communications by 113.8% in the 4th quarter. First Trust Advisors LP now owns 82,442 shares of the technology company’s stock valued at $16,802,000 after purchasing an additional 43,885 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of SBA Communications by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 28,453 shares of the technology company’s stock valued at $5,799,000 after purchasing an additional 511 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of SBA Communications by 15.6% in the 4th quarter. MML Investors Services LLC now owns 9,277 shares of the technology company’s stock valued at $1,891,000 after purchasing an additional 1,249 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 1.3%

Shares of SBAC stock opened at $220.89 on Friday. The company’s fifty day simple moving average is $228.95 and its 200-day simple moving average is $224.52. SBA Communications Corporation has a 52 week low of $192.55 and a 52 week high of $252.64. The company has a market cap of $23.72 billion, a PE ratio of 28.07, a P/E/G ratio of 2.06 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating 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 business had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same quarter last year, the firm posted $3.29 EPS. The business’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 research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SBAC shares. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. Morgan Stanley lifted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Citigroup reiterated an “outperform” rating on shares of SBA Communications in a report on Tuesday, August 5th. Barclays lifted their price target on shares of SBA Communications from $247.00 to $257.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Scotiabank started coverage on shares of SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.