Handelsbanken Fonder AB Grows Stock Position in SBA Communications Corporation $SBAC

Handelsbanken Fonder AB raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,545 shares of the technology company’s stock after buying an additional 2,585 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of SBA Communications worth $16,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC boosted its position in shares of SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. Stone House Investment Management LLC purchased a new position in SBA Communications during the first quarter worth approximately $33,000. Geneos Wealth Management Inc. boosted its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of SBA Communications during the 1st quarter valued at $47,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of SBA Communications during the 1st quarter worth $47,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBAC stock opened at $195.02 on Friday. The firm has a market cap of $20.78 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The stock has a 50-day simple moving average of $195.08 and a 200-day simple moving average of $214.52.

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

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s payout ratio is 57.89%.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBAC shares. Williams Trading set a $237.00 target price on SBA Communications in a report on Tuesday, November 4th. The Goldman Sachs Group cut their price objective on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. TD Cowen decreased their target price on SBA Communications from $249.00 to $237.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the stock a “strong-buy” rating in a research report on Tuesday, August 5th. Finally, JMP Securities set a $280.00 price target on shares of SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.06.

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.