SBA Communications Corporation $SBAC Position Increased by Skylands Capital LLC

Key Points

• Skylands Capital increased its position in SBA Communications by 15% to 96,715 shares (about $18.71M), and institutional investors now own roughly 97.35% of the company.
• Q4 results and dividend: SBA reported EPS of $3.47 (beat expectations) with revenue of $719.6M (slightly below estimates), and raised its quarterly dividend to $1.25 ($5.00 annual, ~2.3% yield).
• Market/analyst snapshot: SBA has a $22.74B market cap and a P/E of ~22.6, with a consensus rating of "Moderate Buy" and an average analyst target of $236.47 versus a current price around $215.

Skylands Capital LLC lifted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,715 shares of the technology company's stock after acquiring an additional 12,585 shares during the quarter. SBA Communications accounts for about 2.5% of Skylands Capital LLC's investment portfolio, making the stock its 8th biggest position. Skylands Capital LLC owned approximately 0.09% of SBA Communications worth $18,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aberdeen Group plc grew its stake in SBA Communications by 12.4% in the fourth quarter. Aberdeen Group plc now owns 202,452 shares of the technology company's stock worth $39,160,000 after purchasing an additional 22,293 shares in the last quarter. Nordea Investment Management AB grew its stake in SBA Communications by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company's stock worth $241,234,000 after purchasing an additional 63,323 shares in the last quarter. OFI Invest Asset Management acquired a new position in SBA Communications in the fourth quarter worth about $17,915,000. VCI Wealth Management LLC acquired a new position in SBA Communications in the fourth quarter worth about $1,786,000. Finally, ProShare Advisors LLC grew its stake in SBA Communications by 27.5% in the third quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company's stock worth $7,538,000 after purchasing an additional 8,404 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 2.0%

Shares of SBAC stock opened at $215.00 on Tuesday. The business has a 50 day moving average of $197.50 and a two-hundred day moving average of $193.66. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $245.16. The company has a market cap of $22.74 billion, a P/E ratio of 22.56, a PEG ratio of 2.18 and a beta of 0.88.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, beating 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 company had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. During the same period in the previous year, the firm posted $3.47 earnings per share. SBA Communications's quarterly revenue was up 3.7% compared to the same quarter last year. Analysts expect that SBA Communications Corporation will post 11.49 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $1.25 dividend. The ex-dividend date was Friday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. SBA Communications's payout ratio is presently 52.47%.

Analysts Set New Price Targets

A number of research firms recently commented on SBAC. UBS Group decreased their price target on SBA Communications from $275.00 to $260.00 and set a "buy" rating for the company in a research note on Tuesday, January 20th. Weiss Ratings upgraded SBA Communications from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on SBA Communications from $195.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 7th. Scotiabank decreased their price target on SBA Communications from $233.00 to $223.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. decreased their target price on SBA Communications from $245.00 to $240.00 and set a "neutral" rating for the company in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and an average target price of $236.47.

SBA Communications 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.

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