DigitalBridge Group Inc. Has $77.36 Million Stock Position in SBA Communications Corporation $SBAC

DigitalBridge Group Inc. increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 37.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 400,120 shares of the technology company’s stock after acquiring an additional 108,573 shares during the quarter. SBA Communications comprises approximately 6.1% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 2nd biggest holding. DigitalBridge Group Inc.’s holdings in SBA Communications were worth $77,363,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SBAC. Quent Capital LLC acquired a new stake in SBA Communications in the third quarter worth $27,000. Geneos Wealth Management Inc. grew its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at $32,000. SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications in the 3rd quarter valued at $48,000. Finally, Center for Financial Planning Inc. acquired a new stake in SBA Communications during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 0.2%

Shares of NASDAQ SBAC opened at $187.15 on Wednesday. The firm has a market cap of $19.94 billion, a PE ratio of 19.64, a PEG ratio of 1.86 and a beta of 0.86. SBA Communications Corporation has a 1-year low of $177.49 and a 1-year high of $245.16. The company has a fifty day moving average price of $190.75 and a 200 day moving average price of $192.92.

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

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is 52.47%.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Scotiabank lowered their price target on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Wells Fargo & Company decreased their price objective on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, Barclays lowered their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.