First Hawaiian Bank Increases Stock Position in SBA Communications Corporation $SBAC

First Hawaiian Bank boosted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,354 shares of the technology company’s stock after purchasing an additional 977 shares during the quarter. First Hawaiian Bank’s holdings in SBA Communications were worth $2,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Independence Bank of Kentucky purchased a new stake in SBA Communications in the first quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new stake in SBA Communications in the first quarter valued at approximately $33,000. Allworth Financial LP raised its stake in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after acquiring an additional 62 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% during the first 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, NBC Securities Inc. raised its stake in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Up 3.0%

Shares of NASDAQ SBAC opened at $199.44 on Friday. SBA Communications Corporation has a 52 week low of $186.81 and a 52 week high of $252.64. The firm’s fifty day moving average is $220.43 and its 200 day moving average is $224.19. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.84 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $670.73 million. During the same period in the previous year, the firm earned $3.29 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications’s payout ratio is presently 56.42%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays lifted 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. Bank of America downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. 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. Citigroup reissued an “outperform” rating on shares of SBA Communications in a research note on Tuesday, August 5th. Finally, UBS Group lifted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.