Motley Fool Wealth Management LLC Sells 5,848 Shares of SBA Communications Corporation $SBAC

Motley Fool Wealth Management LLC trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,057 shares of the technology company’s stock after selling 5,848 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in SBA Communications were worth $5,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Retirement Investments LLC bought a new position in SBA Communications during the 4th quarter worth approximately $39,000. Cerity Partners LLC grew its position in SBA Communications by 16.3% during the 4th quarter. Cerity Partners LLC now owns 38,313 shares of the technology company’s stock worth $7,411,000 after acquiring an additional 5,374 shares during the last quarter. Clearbridge Investments LLC grew its position in SBA Communications by 29.9% during the 4th quarter. Clearbridge Investments LLC now owns 384,521 shares of the technology company’s stock worth $74,378,000 after acquiring an additional 88,438 shares during the last quarter. Syon Capital LLC grew its position in SBA Communications by 81.3% during the 4th quarter. Syon Capital LLC now owns 4,744 shares of the technology company’s stock worth $918,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in SBA Communications during the 4th quarter worth approximately $85,000. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Barclays lifted their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Truist Financial reiterated a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company lifted their price objective on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. 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 company’s stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Stock Up 2.3%

SBAC opened at $204.78 on Wednesday. The stock has a market cap of $21.72 billion, a PE ratio of 21.56, a PEG ratio of 2.00 and a beta of 0.99. The business has a 50 day moving average of $208.60 and a 200-day 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders 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 dividend yield of 2.4%. The ex-dividend date is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 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.