Robeco Institutional Asset Management B.V. Grows Holdings in SBA Communications Co. (NASDAQ:SBAC)

Robeco Institutional Asset Management B.V. raised its position in SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 19.1% in the third quarter, Holdings Channel reports. The institutional investor owned 46,592 shares of the technology company’s stock after purchasing an additional 7,485 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in SBA Communications were worth $13,262,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of SBA Communications by 1.9% during the 3rd quarter. BlackRock Inc. now owns 9,673,900 shares of the technology company’s stock worth $2,753,678,000 after purchasing an additional 177,089 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of SBA Communications by 13.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,396,193 shares of the technology company’s stock worth $966,729,000 after purchasing an additional 407,347 shares during the last quarter. FMR LLC raised its position in shares of SBA Communications by 37.5% during the 2nd quarter. FMR LLC now owns 2,875,067 shares of the technology company’s stock worth $920,165,000 after purchasing an additional 783,686 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of SBA Communications by 6.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,700,110 shares of the technology company’s stock worth $483,937,000 after purchasing an additional 102,118 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SBA Communications by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,467,951 shares of the technology company’s stock worth $417,849,000 after purchasing an additional 6,952 shares during the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $255.98 on Friday. The firm has a 50 day simple moving average of $279.33 and a 200-day simple moving average of $284.35. SBA Communications Co. has a 1-year low of $236.20 and a 1-year high of $379.99. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of 60.80 and a beta of 0.49.

SBA Communications (NASDAQ:SBAC – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The technology company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($1.94). The firm had revenue of $686.10 million during the quarter, compared to analysts’ expectations of $681.40 million. SBA Communications had a net margin of 17.52% and a negative return on equity of 8.58%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $2.81 EPS. Equities analysts expect that SBA Communications Co. will post 11.74 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from SBA Communications’s previous quarterly dividend of $0.71. SBA Communications’s dividend payout ratio (DPR) is presently 80.76%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBAC. StockNews.com began coverage on shares of SBA Communications in a research report on Thursday. They set a “hold” rating for the company. Cowen dropped their price objective on shares of SBA Communications from $341.00 to $328.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. Wells Fargo & Company upped their price objective on shares of SBA Communications from $300.00 to $340.00 in a research note on Wednesday, December 14th. Barclays dropped their price objective on shares of SBA Communications from $336.00 to $330.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SBA Communications from $325.00 to $320.00 in a research note on Thursday, February 23rd. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $335.40.

SBA Communications Profile

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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.