Bayforest Capital Ltd Buys 1,397 Shares of SBA Communications Corporation $SBAC

Bayforest Capital Ltd lifted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 420.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,729 shares of the technology company’s stock after buying an additional 1,397 shares during the period. Bayforest Capital Ltd’s holdings in SBA Communications were worth $380,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of SBA Communications in the first quarter valued at about $302,000. GAMMA Investing LLC lifted its stake in shares of SBA Communications by 38.6% in the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after buying an additional 469 shares during the period. Praxis Investment Management Inc. bought a new stake in shares of SBA Communications in the first quarter valued at about $290,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock valued at $3,146,000 after buying an additional 1,769 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of SBA Communications by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after buying an additional 608 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.1%

NASDAQ:SBAC opened at $193.57 on Thursday. SBA Communications Corporation has a 1 year low of $186.81 and a 1 year high of $252.64. The firm has a 50 day moving average of $221.14 and a 200-day moving average of $224.29. The stock has a market capitalization of $20.79 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. During the same quarter in the previous year, the company posted $3.29 earnings per share. SBA Communications’s quarterly revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts forecast 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, September 18th. Investors of record on Thursday, August 21st will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. 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 currently 56.42%.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price target for the company. in a research note on Tuesday, May 20th. Barclays raised their price target on shares of SBA Communications from $247.00 to $257.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. 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 note on Tuesday, August 5th. Wells Fargo & Company raised their price target on shares of SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Finally, Citigroup restated an “outperform” rating on shares of SBA Communications in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $256.38.

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.