LM Advisors LLC Lowers Stock Position in SBA Communications Corporation $SBAC

LM Advisors LLC cut its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 94.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 415 shares of the technology company’s stock after selling 6,688 shares during the period. LM Advisors LLC’s holdings in SBA Communications were worth $80,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SBAC. Dodge & Cox grew its stake in shares of SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after buying an additional 2,328,837 shares during the period. Norges Bank purchased a new stake in shares of SBA Communications during the 4th quarter valued at $302,774,000. Arrowstreet Capital Limited Partnership grew its stake in shares of SBA Communications by 256.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock valued at $211,344,000 after buying an additional 785,850 shares during the period. Vanguard Group Inc. grew its stake in shares of SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after buying an additional 403,285 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in SBA Communications by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock worth $245,043,000 after purchasing an additional 336,071 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

NASDAQ:SBAC opened at $204.79 on Friday. The firm has a 50-day moving average of $210.64 and a two-hundred day moving average of $196.42. The stock has a market cap of $21.72 billion, a P/E ratio of 21.56, a PEG ratio of 2.04 and a beta of 0.99. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16.

SBA Communications Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBAC. Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada upped their price target on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley upped their price target on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Wells Fargo & Company upped their price target on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Finally, Barclays upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus price target 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.