Dimensional Fund Advisors LP Acquires 46,620 Shares of SBA Communications Corporation $SBAC

Dimensional Fund Advisors LP increased its stake in SBA Communications Corporation (NASDAQ:SBAC) by 3.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,612,785 shares of the technology company’s stock after buying an additional 46,620 shares during the period. Dimensional Fund Advisors LP’s holdings in SBA Communications were worth $277,567,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in SBAC. DV Equities LLC purchased a new stake in SBA Communications during the fourth quarter worth about $29,000. Fulcrum Asset Management LLP bought a new stake in SBA Communications in the third quarter worth about $32,000. Geneos Wealth Management Inc. boosted its stake in SBA Communications by 105.0% in the first 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. High Point Wealth Management LLC purchased a new position in SBA Communications in the fourth quarter valued at about $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of SBA Communications during the 4th quarter valued at approximately $39,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.7%

SBAC opened at $178.02 on Thursday. The company has a 50 day moving average of $193.18 and a 200 day moving average of $195.12. The company has a market cap of $18.88 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBAC. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research note on Friday, June 26th. They set a “neutral” rating and a $205.00 price target for the company. Barclays increased their price objective on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Royal Bank Of Canada decreased their target price on SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Truist Financial restated a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Finally, Morgan Stanley upped their price target on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $235.28.

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.