Skylands Capital LLC Has $19.58 Million Position in SBA Communications Corporation $SBAC

Skylands Capital LLC increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 17.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,750 shares of the technology company’s stock after purchasing an additional 17,035 shares during the quarter. SBA Communications accounts for 2.6% of Skylands Capital LLC’s portfolio, making the stock its 9th biggest holding. Skylands Capital LLC’s holdings in SBA Communications were worth $19,578,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dodge & Cox raised its position in SBA Communications by 24.1% in the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after buying an additional 2,328,837 shares during the last quarter. Norges Bank purchased a new stake in shares of SBA Communications during the 4th quarter valued at about $302,774,000. Arrowstreet Capital Limited Partnership grew its stake in shares of SBA Communications by 256.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock worth $211,344,000 after acquiring an additional 785,850 shares during the period. Millennium Management LLC raised its holdings in shares of SBA Communications by 171.8% during the fourth quarter. Millennium Management LLC now owns 811,543 shares of the technology company’s stock valued at $156,977,000 after purchasing an additional 513,002 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in SBA Communications by 36.1% during the third quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock valued at $245,043,000 after purchasing an additional 336,071 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 1.6%

Shares of NASDAQ SBAC opened at $183.76 on Friday. The firm has a 50 day moving average of $205.52 and a 200 day moving average of $196.21. The firm has a market capitalization of $19.49 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $243.16.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Friday. They issued a “neutral” rating and a $205.00 target price for the company. Scotiabank increased their price target on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their price target on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, Truist Financial reiterated a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.39.

SBA Communications Company 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.