AlphaQuest LLC Increases Holdings in SBA Communications Corporation $SBAC

AlphaQuest LLC lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,573 shares of the technology company’s stock after acquiring an additional 488 shares during the quarter. AlphaQuest LLC’s holdings in SBA Communications were worth $1,309,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of SBA Communications during the 1st quarter worth approximately $33,000. Allworth Financial LP raised its position in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after purchasing an additional 62 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $47,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 1.3%

SBAC stock opened at $198.68 on Friday. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 2.07 and a beta of 0.82. The business has a fifty day simple moving average of $199.49 and a 200-day simple moving average of $219.01. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $247.04.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping 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 firm had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. During the same period in the prior year, the company earned $3.29 EPS. 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, analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications’s dividend payout ratio is 56.42%.

Analyst Ratings Changes

Several brokerages recently issued reports on SBAC. Morgan Stanley cut their price objective on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, October 16th. Barclays cut their price target on SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a report on Monday, September 15th. KeyCorp cut their price target on SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Finally, Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and cut their price target for the company 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 issued a Buy rating and eight have assigned 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 $242.40.

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.