SBA Communications Corporation $SBAC Shares Bought by Dodge & Cox

Dodge & Cox grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,667,297 shares of the technology company’s stock after acquiring an additional 1,058,803 shares during the period. Dodge & Cox owned 0.09% of SBA Communications worth $1,869,172,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Quent Capital LLC bought a new stake in shares of SBA Communications in the third quarter worth $27,000. Geneos Wealth Management Inc. boosted its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in SBA Communications during the 3rd quarter valued at $48,000. Center for Financial Planning Inc. acquired a new position in SBA Communications during the 3rd quarter worth $50,000. Finally, Allworth Financial LP increased its position in shares of SBA Communications by 67.9% in the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock worth $64,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price 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 lowered their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. JPMorgan Chase & Co. cut their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Sanford C. Bernstein initiated coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock. Finally, UBS Group decreased their target price on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Stock Performance

Shares of SBAC opened at $188.04 on Friday. The firm has a fifty day moving average of $190.82 and a 200-day moving average of $193.45. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.83 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.

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

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio (DPR) is 46.59%.

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.