Parcion Private Wealth LLC Purchases New Shares in SBA Communications Corporation $SBAC

Parcion Private Wealth LLC acquired a new position in SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, HoldingsChannel reports. The fund acquired 1,001 shares of the technology company’s stock, valued at approximately $235,000.

Other large investors also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in shares of SBA Communications in the first quarter valued at about $33,000. Allworth Financial LP increased its position in SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of SBA Communications in the first quarter worth about $47,000. Finally, Summit Securities Group LLC acquired a new position in shares of SBA Communications during the first quarter worth approximately $47,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 price objective for the company. Barclays dropped 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Bank of America lowered SBA Communications from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Finally, Morgan Stanley cut their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.40.

SBA Communications Stock Down 0.1%

NASDAQ:SBAC opened at $197.38 on Thursday. SBA Communications Corporation has a 12-month low of $185.45 and a 12-month high of $247.04. The stock’s fifty day simple moving average is $200.34 and its 200-day simple moving average is $219.20. The firm has a market capitalization of $21.19 billion, a P/E ratio of 25.08, a P/E/G ratio of 2.08 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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 negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million during the quarter, compared to the consensus estimate of $670.73 million. During the same quarter in the prior year, the company posted $3.29 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) 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.