Chicago Partners Investment Group LLC Has $607,000 Stock Position in SBA Communications Corporation $SBAC

Chicago Partners Investment Group LLC grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 22.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,561 shares of the technology company’s stock after purchasing an additional 476 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in SBA Communications were worth $607,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Arcus Capital Partners LLC acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $270,000. Chevy Chase Trust Holdings LLC increased its position in shares of SBA Communications by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 56,948 shares of the technology company’s stock worth $13,374,000 after purchasing an additional 316 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of SBA Communications by 42.0% during the 2nd quarter. Allianz Asset Management GmbH now owns 15,561 shares of the technology company’s stock worth $3,654,000 after purchasing an additional 4,606 shares during the last quarter. Rosenberg Matthew Hamilton acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $78,000. Finally, Generali Asset Management SPA SGR acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $1,322,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of several recent analyst reports. Barclays lowered their price target on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. UBS Group decreased their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Royal Bank Of Canada decreased their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. JMP Securities set a $280.00 target price on SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley decreased their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.40.

SBA Communications Stock Performance

SBAC opened at $197.67 on Wednesday. The firm has a market cap of $21.23 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $247.04. The business’s fifty day moving average is $200.78 and its 200-day moving average is $219.35.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.SBA Communications’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued 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 was Thursday, August 21st. SBA Communications’s dividend payout ratio is 56.42%.

SBA Communications 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.