Dimensional Fund Advisors LP Purchases 46,620 Shares of SBA Communications Corporation $SBAC

Dimensional Fund Advisors LP raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 3.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,612,785 shares of the technology company’s stock after acquiring an additional 46,620 shares during the period. Dimensional Fund Advisors LP owned approximately 1.52% of SBA Communications worth $277,567,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DV Equities LLC acquired a new stake in SBA Communications in the 4th quarter valued at $29,000. Fulcrum Asset Management LLP acquired a new position in SBA Communications during the third quarter worth $32,000. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares in the last quarter. High Point Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter valued at $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of SBA Communications in the fourth quarter valued at $39,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. KeyCorp lifted their price target on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. The Goldman Sachs Group began coverage on SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 price objective for the company. Scotiabank increased their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Truist Financial restated a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.28.

SBA Communications Price Performance

Shares of SBAC stock opened at $178.02 on Thursday. The firm has a 50-day moving average of $193.18 and a 200-day moving average of $195.12. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16. The company has a market cap of $18.88 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.77 and a beta of 1.00.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.8%. SBA Communications’s dividend payout ratio is currently 52.63%.

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.