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Here’s Why You Should Consider Investing in SBA Communications (SBAC)

ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Growth Strategy underperformed the Russell Midcap Growth Index during the second quarter. On an absolute basis, the Strategy had losses across all 10 sectors in which it was invested during the quarter (out of 11 sectors total). The leading detractors were the IT and consumer discretionary sectors, while the real estate sector was the smallest detractor. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge Mid Cap Growth Strategy Fund mentioned SBA Communications Corporation (NASDAQ:SBAC) and explained its insights for the company. Founded in 1989, SBA Communications Corporation (NASDAQ:SBAC) is a Boca Raton, Florida-based real estate investment trust company with a $35.9 billion market capitalization. SBA Communications Corporation (NASDAQ:SBAC) delivered a -14.41% return since the beginning of the year, while its 12-month returns are down by -4.75%. The stock closed at $332.97 per share on August 24, 2022.

Here is what ClearBridge Mid Cap Growth Strategy Fund has to say about SBA Communications Corporation (NASDAQ:SBAC) in its Q2 2022 investor letter:

“Another strong contribution in real estate came from SBA Communications (NASDAQ:SBAC), an independent owner and operator of wireless communications towers in North and Central America, as investors grew fearful of an impending recession and positioned portfolios in relatively economically insulated companies such as towers.”

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Photo by Breno Assis on Unsplash

Our calculations show that SBA Communications Corporation (NASDAQ:SBAC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. SBA Communications Corporation (NASDAQ:SBAC) was in 36 hedge fund portfolios at the end of the second quarter of 2022, compared to 41 funds in the previous quarter. SBA Communications Corporation (NASDAQ:SBAC) delivered a -3.87% return in the past 3 months.

In March 2021, we also shared another hedge fund’s views on SBA Communications Corporation (NASDAQ:SBAC) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.