AG2R LA Mondiale Gestion D Actifs Takes $1.38 Million Position in SBA Communications Corporation $SBAC

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the first quarter, Holdings Channel.com reports. The fund bought 5,949 shares of the technology company’s stock, valued at approximately $1,380,000.

Other institutional investors have also recently modified their holdings of the company. BROOKFIELD Corp ON boosted its holdings in SBA Communications by 1.8% in the 1st quarter. BROOKFIELD Corp ON now owns 1,008,947 shares of the technology company’s stock worth $221,978,000 after buying an additional 17,702 shares during the last quarter. First Hawaiian Bank boosted its holdings in SBA Communications by 7.9% in the 1st quarter. First Hawaiian Bank now owns 13,354 shares of the technology company’s stock worth $2,938,000 after buying an additional 977 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. Focus Partners Wealth boosted its holdings in SBA Communications by 9.0% in the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after buying an additional 266 shares during the last quarter. Finally, Glenview Trust co acquired a new stake in SBA Communications in the 1st quarter worth about $231,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SBAC shares. Scotiabank started coverage on SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of SBA Communications in a report on Tuesday, August 5th. Morgan Stanley lifted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Barclays boosted their target price on SBA Communications from $247.00 to $257.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Bank of America cut SBA Communications from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.38.

SBA Communications Stock Performance

SBAC stock opened at $199.97 on Friday. The firm has a market cap of $21.47 billion, a PE ratio of 25.41, a PEG ratio of 1.89 and a beta of 0.80. The firm’s 50 day moving average price is $219.72 and its 200-day moving average price is $224.12. SBA Communications Corporation has a one year low of $186.81 and a one year high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million for the quarter, compared to analyst estimates 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 for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts predict 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. Stockholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is 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.