Tobam Increases Holdings in SBA Communications Corporation $SBAC

Tobam increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 171.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,222 shares of the technology company’s stock after buying an additional 4,563 shares during the quarter. Tobam’s holdings in SBA Communications were worth $1,696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. CVA Family Office LLC raised its position in SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. Stone House Investment Management LLC acquired a new position in SBA Communications in the first quarter valued at about $33,000. Allworth Financial LP lifted its holdings in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after acquiring an additional 62 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in 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 acquiring an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of SBA Communications during the first quarter worth about $47,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $202.84 on Wednesday. The stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 12 month low of $185.45 and a 12 month high of $245.16. The firm’s fifty day simple moving average is $194.98 and its 200-day simple moving average is $216.73.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $715.65 million. During the same quarter last year, the company posted $3.32 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications’s payout ratio is presently 57.89%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of analyst reports. Barclays reduced their price target on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Wells Fargo & Company decreased their price target on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. KeyCorp dropped their price objective on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Finally, Cowen restated a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $238.50.

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.