SBA Communications Corporation $SBAC Shares Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 162.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,294 shares of the technology company’s stock after buying an additional 42,908 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.06% of SBA Communications worth $15,993,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in shares of SBA Communications by 14.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 452,025 shares of the technology company’s stock worth $105,599,000 after purchasing an additional 57,721 shares during the period. J.W. Cole Advisors Inc. grew its position in SBA Communications by 4.6% during the second quarter. J.W. Cole Advisors Inc. now owns 1,532 shares of the technology company’s stock valued at $360,000 after buying an additional 68 shares during the period. Advisors Asset Management Inc. grew its position in SBA Communications by 8.1% during the second quarter. Advisors Asset Management Inc. now owns 951 shares of the technology company’s stock valued at $223,000 after buying an additional 71 shares during the period. Elo Mutual Pension Insurance Co increased its holdings in SBA Communications by 1.4% in the second quarter. Elo Mutual Pension Insurance Co now owns 12,977 shares of the technology company’s stock valued at $3,048,000 after buying an additional 177 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in shares of SBA Communications by 18,869.2% in the second quarter. Laurel Wealth Advisors LLC now owns 9,864 shares of the technology company’s stock worth $2,316,000 after acquiring an additional 9,812 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBAC has been the subject of several recent analyst reports. Citigroup cut their price target on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. UBS Group cut their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada reduced their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Barclays reduced their price objective on shares of SBA Communications from $226.00 to $219.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $238.06.

SBA Communications Stock Up 0.8%

SBA Communications stock opened at $194.79 on Thursday. The company has a fifty day simple moving average of $194.77 and a 200-day simple moving average of $213.57. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 52-week low of $185.45 and a 52-week high of $245.16.

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

SBA Communications Dividend Announcement

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

SBA Communications Company 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.