Norges Bank Makes New Investment in SBA Communications Corporation $SBAC

Norges Bank purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,494,993 shares of the technology company's stock, valued at approximately $351,084,000. Norges Bank owned about 1.39% of SBA Communications as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its holdings in SBA Communications by 21.3% during the first quarter. Cetera Investment Advisers now owns 7,790 shares of the technology company's stock valued at $1,714,000 after buying an additional 1,370 shares during the last quarter. Assetmark Inc. increased its stake in shares of SBA Communications by 25.1% in the 1st quarter. Assetmark Inc. now owns 717 shares of the technology company's stock worth $158,000 after purchasing an additional 144 shares in the last quarter. LPL Financial LLC raised its holdings in SBA Communications by 11.3% in the 1st quarter. LPL Financial LLC now owns 19,707 shares of the technology company's stock worth $4,336,000 after purchasing an additional 1,994 shares during the period. Mackenzie Financial Corp lifted its position in SBA Communications by 12.9% during the first quarter. Mackenzie Financial Corp now owns 10,403 shares of the technology company's stock valued at $2,289,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Baker Avenue Asset Management LP bought a new stake in SBA Communications during the first quarter valued at about $251,000. Institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SBAC shares. Barclays set a $212.00 price objective on SBA Communications in a research report on Monday. Wells Fargo & Company lowered 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 report on Monday, October 20th. Raymond James Financial set a $265.00 price target on shares of SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada decreased their price objective on shares of SBA Communications from $235.00 to $232.00 and set an "outperform" rating on the stock in a research report on Monday, November 10th. Finally, Morgan Stanley lowered their target price on shares of SBA Communications from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 16th. Two investment 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 MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and an average price target of $237.63.

View Our Latest Report on SBAC

SBA Communications Price Performance

SBA Communications stock opened at $194.76 on Monday. SBA Communications Corporation has a 1 year low of $185.45 and a 1 year high of $245.16. The firm's 50 day moving average price is $194.60 and its 200-day moving average price is $213.04. The stock has a market cap of $20.75 billion, a P/E ratio of 24.75, a PEG ratio of 2.01 and a beta of 0.80.

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

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications's dividend payout ratio (DPR) is presently 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.

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