Capital Innovations LLC Acquires New Shares in SBA Communications Corporation $SBAC

Capital Innovations LLC acquired a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 63,760 shares of the technology company’s stock, valued at approximately $12,333,000. SBA Communications comprises approximately 3.5% of Capital Innovations LLC’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently modified their holdings of SBAC. Jones Financial Companies Lllp boosted its holdings in shares of SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after acquiring an additional 551 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after acquiring an additional 229 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after acquiring an additional 266 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of SBA Communications by 11.3% during the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock valued at $22,238,000 after acquiring an additional 9,617 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 3.8%

Shares of SBA Communications stock opened at $196.21 on Wednesday. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $243.16. The stock has a market cap of $20.81 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.04 and a beta of 0.99. The company’s fifty day moving average is $204.55 and its 200 day moving average is $195.99.

SBA Communications Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. SBA Communications’s payout ratio is currently 52.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays raised their price objective on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Truist Financial reissued a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Sanford C. Bernstein began coverage on shares of SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Finally, Morgan Stanley boosted their price objective on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $237.22.

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.