Deutsche Bank AG Cuts Stock Holdings in SBA Communications Corporation $SBAC

Deutsche Bank AG trimmed its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,590,129 shares of the technology company’s stock after selling 341,279 shares during the quarter. Deutsche Bank AG’s holdings in SBA Communications were worth $307,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC purchased a new stake in SBA Communications in the 4th quarter valued at about $39,000. Cerity Partners LLC increased its stake in SBA Communications by 16.3% in the 4th quarter. Cerity Partners LLC now owns 38,313 shares of the technology company’s stock valued at $7,411,000 after buying an additional 5,374 shares during the last quarter. Clearbridge Investments LLC increased its stake in SBA Communications by 29.9% in the 4th quarter. Clearbridge Investments LLC now owns 384,521 shares of the technology company’s stock valued at $74,378,000 after buying an additional 88,438 shares during the last quarter. Syon Capital LLC increased its stake in SBA Communications by 81.3% in the 4th quarter. Syon Capital LLC now owns 4,744 shares of the technology company’s stock valued at $918,000 after buying an additional 2,128 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in SBA Communications in the 4th quarter valued at about $85,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SBAC. 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 note on Tuesday, May 5th. Morgan Stanley increased their price objective on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Scotiabank boosted their price target on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Price Performance

Shares of SBAC opened at $207.33 on Thursday. The firm has a market cap of $21.99 billion, a PE ratio of 21.82, a PEG ratio of 2.04 and a beta of 0.99. The stock’s fifty day moving average price is $209.35 and its two-hundred day moving average price is $196.30. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $243.16.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.4%. SBA Communications’s dividend payout ratio is 52.63%.

About SBA Communications

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.