Sustainable Insight Capital Management LLC Has $734,000 Stake in SBA Communications Corporation $SBAC

Sustainable Insight Capital Management LLC increased its position in SBA Communications Corporation (NASDAQ:SBAC) by 300.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,265 shares of the technology company’s stock after buying an additional 3,200 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $734,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SBAC. Healthcare of Ontario Pension Plan Trust Fund increased its stake in SBA Communications by 45.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 209,290 shares of the technology company’s stock valued at $36,021,000 after purchasing an additional 65,078 shares in the last quarter. Morningstar Investment Management LLC lifted its stake in shares of SBA Communications by 8.6% in the first quarter. Morningstar Investment Management LLC now owns 10,144 shares of the technology company’s stock valued at $1,746,000 after buying an additional 800 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of SBA Communications by 47.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,615,054 shares of the technology company’s stock valued at $277,967,000 after buying an additional 522,442 shares in the last quarter. Sei Investments Co. grew its holdings in shares of SBA Communications by 7.1% during the first quarter. Sei Investments Co. now owns 672,105 shares of the technology company’s stock valued at $115,673,000 after buying an additional 44,586 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of SBA Communications during the first quarter valued at about $17,995,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 0.7%

SBA Communications stock opened at $173.57 on Friday. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.75 and a beta of 1.00. The business has a 50-day simple moving average of $192.13 and a 200 day simple moving average of $194.85. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $235.70.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.9%. SBA Communications’s payout ratio is presently 52.63%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Scotiabank raised their price target on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Wells Fargo & Company upgraded SBA Communications from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of SBA Communications in a report on Monday. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.28.

SBA Communications Company 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.