DigitalBridge Group Inc. Grows Stock Position in SBA Communications Corporation $SBAC

DigitalBridge Group Inc. raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 37.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,120 shares of the technology company’s stock after purchasing an additional 108,573 shares during the quarter. SBA Communications makes up about 6.1% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 2nd largest position. DigitalBridge Group Inc. owned approximately 0.38% of SBA Communications worth $77,363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares during the last quarter. Empowered Funds LLC grew its holdings in SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after acquiring an additional 229 shares during the last quarter. Focus Partners Wealth increased its position in SBA Communications by 9.0% in the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after acquiring an additional 266 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% in 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 during the last quarter. Finally, Allworth Financial LP raised its stake in shares of SBA Communications by 67.9% in the second quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock worth $64,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $187.15 on Wednesday. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The firm has a market capitalization of $19.94 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.86 and a beta of 0.86. The company’s 50 day simple moving average is $190.75 and its 200 day simple moving average is $192.92.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 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 analyst estimates of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.47 EPS. Sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

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

Analysts Set New Price Targets

SBAC has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of 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. Barclays decreased their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Sanford C. Bernstein assumed coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price for the company. Scotiabank cut their price target on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Finally, Wells Fargo & Company decreased their price target on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $232.17.

About SBA Communications

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.