Hudson Bay Capital Management LP Makes New $12.40 Million Investment in SBA Communications Corporation $SBAC

Hudson Bay Capital Management LP purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 64,124 shares of the technology company’s stock, valued at approximately $12,398,000. Hudson Bay Capital Management LP owned 0.06% of SBA Communications as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after acquiring an additional 403,285 shares in the last quarter. Dodge & Cox grew its stake in SBA Communications by 12.3% during the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after purchasing an additional 1,058,803 shares in the last quarter. State Street Corp grew its stake in SBA Communications by 3.0% during the 3rd quarter. State Street Corp now owns 4,752,877 shares of the technology company’s stock worth $918,969,000 after purchasing an additional 139,696 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in SBA Communications by 24.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after purchasing an additional 366,491 shares during the period. Finally, Invesco Ltd. increased its holdings in SBA Communications by 14.7% during the 3rd quarter. Invesco Ltd. now owns 1,805,376 shares of the technology company’s stock worth $349,069,000 after purchasing an additional 231,838 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Scotiabank cut their target price on shares of 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. Royal Bank Of Canada raised their target price on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Morgan Stanley decreased their price target on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Finally, Barclays lowered their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

SBA Communications Stock Performance

SBA Communications stock opened at $182.28 on Friday. The company has a market capitalization of $19.42 billion, a P/E ratio of 19.13, a PEG ratio of 1.81 and a beta of 0.86. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The stock has a 50-day simple moving average of $190.80 and a 200-day simple moving average of $192.77.

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 analysts’ consensus estimates of $3.25 by $0.22. The firm had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 EPS. As a group, analysts forecast that SBA Communications Corporation will post 12.57 earnings per share 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. 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 is Friday, March 13th. SBA Communications’s payout ratio is 52.47%.

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.