Dimensional Fund Advisors LP Buys 58,449 Shares of SBA Communications Corporation $SBAC

Dimensional Fund Advisors LP raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,564,790 shares of the technology company’s stock after buying an additional 58,449 shares during the period. Dimensional Fund Advisors LP owned about 1.46% of SBA Communications worth $302,563,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Quent Capital LLC bought a new position in shares of SBA Communications in the 3rd quarter valued at about $27,000. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications during the third quarter worth approximately $48,000. Center for Financial Planning Inc. acquired a new position in SBA Communications in the third quarter valued at approximately $50,000. Finally, Avalon Trust Co acquired a new position in SBA Communications in the third quarter valued at approximately $58,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of analyst reports. Sanford C. Bernstein began coverage on shares of SBA Communications in a report on Thursday. They set a “market perform” rating and a $218.00 target price for the company. Royal Bank Of Canada increased their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. 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. Wells Fargo & Company cut their price target on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Finally, Barclays reduced their price objective on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Stock Up 0.5%

Shares of NASDAQ:SBAC opened at $196.58 on Friday. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.95 and a beta of 0.86. SBA Communications Corporation has a 12 month low of $177.49 and a 12 month high of $245.16. The company’s fifty day simple moving average is $191.15 and its 200 day simple moving average is $194.55.

SBA Communications (NASDAQ:SBAC) last released its 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. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm had revenue of $719.58 million during the quarter, compared to analysts’ expectations of $725.80 million. During the same quarter in the prior year, the company earned $3.47 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.5%. SBA Communications’s dividend payout ratio is 46.59%.

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.