Dimensional Fund Advisors LP Increases Holdings in SBA Communications Corporation $SBAC

Key Points

• Dimensional Fund Advisors LP increased its ownership in SBA Communications by 1.0%, acquiring an additional 14,918 shares during the first quarter, bringing its total to approximately 1.40% of the company's stock valued at $331.75 million.
• Analysts have a consensus rating of "Moderate Buy" for SBA Communications, with an average target price of $258.25, following recent price objective increases from various firms.
• SBA Communications announced a quarterly dividend of $1.11 per share, representing a dividend yield of 2.0% and a payout ratio of 56.42% as of its latest disclosure.

Dimensional Fund Advisors LP lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,507,938 shares of the technology company's stock after purchasing an additional 14,918 shares during the period. Dimensional Fund Advisors LP owned about 1.40% of SBA Communications worth $331,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of SBA Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock worth $3,886,844,000 after purchasing an additional 268,018 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares in the last quarter. Deutsche Bank AG increased its position in shares of SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock worth $491,549,000 after purchasing an additional 134,624 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of SBA Communications by 7.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock worth $439,310,000 after purchasing an additional 135,682 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of SBA Communications by 11.5% during the first quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company's stock worth $436,969,000 after purchasing an additional 204,902 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SBAC shares. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research report on Tuesday, May 20th. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target on the stock. Barclays boosted their price target on SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Raymond James Financial set a $265.00 price target on SBA Communications and gave the company a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company boosted their price target on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and a consensus price target of $258.25.

SBA Communications Stock Performance

SBAC traded up $5.11 during trading on Tuesday, reaching $220.26. The company's stock had a trading volume of 743,141 shares, compared to its average volume of 890,804. SBA Communications Corporation has a 52-week low of $192.55 and a 52-week high of $252.64. The company's fifty day moving average price is $229.12 and its 200-day moving average price is $224.37. The company has a market capitalization of $23.65 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the previous year, the company earned $3.29 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Equities analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.0%. SBA Communications's payout ratio is 56.42%.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.