National Pension Service Buys 1,142 Shares of SBA Communications Corporation $SBAC

National Pension Service lifted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,982 shares of the technology company’s stock after acquiring an additional 1,142 shares during the period. National Pension Service owned 0.17% of SBA Communications worth $42,502,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vise Technologies Inc. purchased a new position in SBA Communications in the second quarter valued at about $337,000. Allworth Financial LP boosted its holdings in shares of SBA Communications by 67.9% in the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock valued at $64,000 after buying an additional 110 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of SBA Communications by 10.2% in the 2nd quarter. ProShare Advisors LLC now owns 30,584 shares of the technology company’s stock valued at $7,182,000 after buying an additional 2,836 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of SBA Communications by 5.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 208,463 shares of the technology company’s stock worth $48,955,000 after buying an additional 11,407 shares during the last quarter. Finally, Garrison Point Advisors LLC bought a new position in shares of SBA Communications during the 2nd quarter worth approximately $211,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC stock opened at $197.21 on Friday. The business has a fifty day moving average of $195.00 and a 200 day moving average of $216.29. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating 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 business had revenue of $732.33 million for the quarter, compared to analyst estimates of $715.65 million. During the same period in the prior year, the company earned $3.32 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is currently 57.89%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several analyst reports. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the stock a “strong-buy” rating in a report on Tuesday, August 5th. Cowen reissued a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. UBS Group reduced their target price on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada dropped their price target on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Two research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.