Capital Innovations LLC Makes New Investment in SBA Communications Corporation $SBAC

Capital Innovations LLC acquired a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 63,760 shares of the technology company’s stock, valued at approximately $12,333,000. SBA Communications comprises 3.5% of Capital Innovations LLC’s portfolio, making the stock its 9th largest holding. Capital Innovations LLC owned 0.06% of SBA Communications at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in SBA Communications by 2.3% during the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after acquiring an additional 403,285 shares during the last quarter. Dodge & Cox raised its position in shares of SBA Communications by 12.3% in 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 in the last quarter. State Street Corp raised its position in shares of SBA Communications by 3.0% in the third quarter. State Street Corp now owns 4,752,877 shares of the technology company’s stock valued at $918,969,000 after buying an additional 139,696 shares in the last quarter. Geode Capital Management LLC raised its position in shares of SBA Communications by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after buying an additional 16,153 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 9.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock valued at $393,615,000 after buying an additional 179,591 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. KeyCorp lifted their price target on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price target on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada lifted their price target on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.22.

SBA Communications Price Performance

Shares of SBAC opened at $196.21 on Wednesday. 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 $20.81 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.04 and a beta of 0.99. The firm has a 50 day simple moving average of $204.55 and a two-hundred day simple moving average of $195.99.

SBA Communications Dividend Announcement

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

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.