Wealth Enhancement Advisory Services LLC Purchases 460 Shares of SBA Communications Corporation $SBAC

Wealth Enhancement Advisory Services LLC increased its position in SBA Communications Corporation (NASDAQ:SBAC) by 3.1% during the second quarter, HoldingsChannel.com reports. The firm owned 15,074 shares of the technology company’s stock after acquiring an additional 460 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in SBA Communications were worth $3,526,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SBAC. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in SBA Communications in the 4th quarter worth about $10,762,000. MassMutual Private Wealth & Trust FSB boosted its stake in SBA Communications by 33.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 770 shares of the technology company’s stock worth $169,000 after purchasing an additional 193 shares in the last quarter. First Hawaiian Bank boosted its stake 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 purchasing an additional 977 shares in the last quarter. Versant Capital Management Inc boosted its stake in SBA Communications by 350.3% in the 1st quarter. Versant Capital Management Inc now owns 1,621 shares of the technology company’s stock worth $357,000 after purchasing an additional 1,261 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in SBA Communications by 2.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company’s stock worth $495,000 after buying an additional 50 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group boosted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a “strong-buy” rating in a research report on Tuesday, August 5th. Barclays decreased their target price on SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Finally, Morgan Stanley boosted their target price on SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.57.

SBA Communications Stock Down 0.6%

NASDAQ SBAC opened at $194.22 on Friday. SBA Communications Corporation has a 52 week low of $186.81 and a 52 week high of $252.64. The firm has a market capitalization of $20.86 billion, a P/E ratio of 24.68, a PEG ratio of 1.85 and a beta of 0.80. The company has a 50-day moving average price of $212.71 and a 200-day moving average price of $222.51.

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. 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 during the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the firm earned $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. As a group, equities research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications’s dividend payout ratio is currently 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.