5,172 Shares in SBA Communications Corporation $SBAC Bought by Capstone Capital Management Ltd

Capstone Capital Management Ltd purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,172 shares of the technology company’s stock, valued at approximately $1,000,000. SBA Communications makes up 1.0% of Capstone Capital Management Ltd’s portfolio, making the stock its 20th largest holding.

Several other institutional investors have also added to or reduced their stakes in the stock. Dodge & Cox increased its position in shares of SBA Communications by 12.3% during the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock valued at $1,869,172,000 after buying an additional 1,058,803 shares during the period. Vanguard Group Inc. lifted its holdings in SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after buying an additional 403,285 shares during the period. Diamond Hill Capital Management Inc. boosted its position in SBA Communications by 24.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock valued at $358,728,000 after acquiring an additional 366,491 shares in the last quarter. Ameriprise Financial Inc. boosted its position in SBA Communications by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock valued at $245,043,000 after acquiring an additional 336,071 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of SBA Communications by 46.5% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 836,956 shares of the technology company’s stock worth $161,825,000 after acquiring an additional 265,648 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

NASDAQ:SBAC opened at $203.34 on Tuesday. The firm’s 50-day moving average price is $201.34 and its 200-day moving average price is $195.32. The company has a market capitalization of $21.57 billion, a PE ratio of 21.40, a P/E/G ratio of 1.99 and a beta of 1.03. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The firm had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. During the same period in the prior year, the firm earned $3.47 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that SBA Communications Corporation will post 11.42 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.5%. SBA Communications’s dividend payout ratio is currently 52.63%.

Wall Street Analyst Weigh In

SBAC has been the subject of several research reports. Truist Financial reissued a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. UBS Group reduced their price target on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Barclays raised their price objective on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.74.

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.