Impax Asset Management Group plc Has $1.29 Million Holdings in SBA Communications Corporation $SBAC

Impax Asset Management Group plc lifted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 58.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,501 shares of the technology company’s stock after acquiring an additional 2,023 shares during the period. Impax Asset Management Group plc’s holdings in SBA Communications were worth $1,292,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. NorthCrest Asset Manangement LLC lifted its position in shares of SBA Communications by 3.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after buying an additional 44 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock valued at $1,440,000 after purchasing an additional 46 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock worth $194,000 after acquiring an additional 47 shares during the last quarter. Farther Finance Advisors LLC lifted its position in SBA Communications by 20.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after purchasing an additional 50 shares during the period. Finally, Allworth Financial LP boosted its stake in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Citigroup cut their price objective on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Wells Fargo & Company dropped their price objective on SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Barclays decreased their target price on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Finally, Morgan Stanley cut their price objective on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.50.

SBA Communications Stock Down 3.8%

Shares of NASDAQ:SBAC opened at $193.95 on Friday. SBA Communications Corporation has a twelve month low of $185.45 and a twelve month high of $245.16. The firm has a market capitalization of $20.83 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 2.01 and a beta of 0.80. The stock’s 50 day moving average is $195.01 and its 200-day moving average is $216.47.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.09. The firm had revenue of $732.33 million during the quarter, compared to analyst estimates of $715.65 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be 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 is Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

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.