SBA Communications Corporation $SBAC Shares Bought by Dodge & Cox

Dodge & Cox raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 12.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,667,297 shares of the technology company’s stock after purchasing an additional 1,058,803 shares during the quarter. Dodge & Cox owned 9.00% of SBA Communications worth $1,869,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GeoWealth Management LLC raised its holdings in SBA Communications by 64.7% in the third quarter. GeoWealth Management LLC now owns 3,583 shares of the technology company’s stock valued at $693,000 after buying an additional 1,407 shares during the period. Certuity LLC lifted its position in SBA Communications by 39.7% during the third quarter. Certuity LLC now owns 1,723 shares of the technology company’s stock valued at $333,000 after buying an additional 490 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in SBA Communications by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 306,762 shares of the technology company’s stock worth $59,312,000 after buying an additional 104,201 shares during the period. Invesco Ltd. increased its position in shares of SBA Communications by 14.7% in the third quarter. Invesco Ltd. now owns 1,805,376 shares of the technology company’s stock worth $349,069,000 after acquiring an additional 231,838 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of SBA Communications by 290.0% in the third quarter. Mackenzie Financial Corp now owns 55,660 shares of the technology company’s stock worth $10,762,000 after acquiring an additional 41,390 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 1.8%

Shares of SBAC stock opened at $188.04 on Friday. The company has a market capitalization of $20.04 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. The firm has a fifty day simple moving average of $190.82 and a 200-day simple moving average of $193.45. SBA Communications Corporation has a twelve month low of $177.49 and a twelve month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The firm had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. During the same quarter in the previous year, the firm posted $3.47 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio is presently 46.59%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBAC. Sanford C. Bernstein began coverage on shares of SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Royal Bank Of Canada raised their price objective on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley reduced their price objective on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Finally, Barclays decreased their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.17.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.