SBA Communications Corporation $SBAC Stock Position Lessened by Permit Capital LLC

Permit Capital LLC lessened its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 575,312 shares of the technology company’s stock after selling 2,610 shares during the period. SBA Communications accounts for approximately 34.6% of Permit Capital LLC’s portfolio, making the stock its largest holding. Permit Capital LLC’s holdings in SBA Communications were worth $111,283,000 as of its most recent SEC filing.

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

SBA Communications Price Performance

SBA Communications stock opened at $208.02 on Monday. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16. The firm has a fifty day moving average of $207.16 and a 200-day moving average of $196.13. The firm has a market capitalization of $22.06 billion, a P/E ratio of 21.90, a PEG ratio of 2.08 and a beta of 0.99.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be given 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 2.4%. SBA Communications’s dividend payout ratio is presently 52.63%.

Analyst Ratings Changes

SBAC has been the subject of a number of analyst reports. KeyCorp boosted their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Scotiabank boosted their price objective 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 boosted 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 report on Tuesday, April 7th. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. One investment 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 MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $237.22.

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.