Skylands Capital LLC Has $19.58 Million Stock Position in SBA Communications Corporation $SBAC

Skylands Capital LLC raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,750 shares of the technology company’s stock after buying an additional 17,035 shares during the quarter. SBA Communications comprises 2.6% of Skylands Capital LLC’s investment portfolio, making the stock its 9th largest position. Skylands Capital LLC owned approximately 0.11% of SBA Communications worth $19,578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dodge & Cox boosted its holdings in SBA Communications by 24.1% in the fourth quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after acquiring an additional 2,328,837 shares in the last quarter. State Street Corp raised its holdings in SBA Communications by 3.3% in the 4th quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock worth $950,054,000 after purchasing an additional 158,738 shares in the last quarter. Geode Capital Management LLC raised its holdings in SBA Communications by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock worth $594,655,000 after purchasing an additional 16,153 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of SBA Communications by 9.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after purchasing an additional 179,591 shares during the period. Finally, Invesco Ltd. lifted its position in shares of SBA Communications by 0.5% in the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after purchasing an additional 9,656 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.6%

SBA Communications stock opened at $183.76 on Friday. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The company has a market capitalization of $19.49 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. The business’s fifty day simple moving average is $205.52 and its two-hundred day simple moving average is $196.21.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.7%. SBA Communications’s payout ratio is 52.63%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBAC. Wells Fargo & Company boosted their price target on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. Scotiabank lifted their price objective on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. The Goldman Sachs Group assumed coverage on SBA Communications in a research report on Friday. They set a “neutral” rating and a $205.00 price objective on the stock. Royal Bank Of Canada increased their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley increased their target price on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.39.

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.