Motley Fool Asset Management LLC Has $10.03 Million Stock Position in SBA Communications Corporation $SBAC

Motley Fool Asset Management LLC lowered its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 51,845 shares of the technology company’s stock after selling 3,500 shares during the period. Motley Fool Asset Management LLC’s holdings in SBA Communications were worth $10,028,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its holdings in shares of SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of SBA Communications during the third quarter worth $32,000. High Point Wealth Management LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth $39,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Wells Fargo & Company lifted their target price on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. KeyCorp lifted their target price on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Scotiabank lifted their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. One 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $237.22.

SBA Communications Stock Up 2.3%

SBAC stock opened at $204.78 on Wednesday. The company has a market cap of $21.72 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. The business has a 50-day simple moving average of $208.60 and a 200 day simple moving average of $196.21. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $243.16.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s payout ratio is 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.