Drucker Wealth 3.0 LLC Invests $706,000 in SBA Communications Corporation $SBAC

Drucker Wealth 3.0 LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 4,102 shares of the technology company’s stock, valued at approximately $706,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SBAC. Elevation Wealth Partners LLC raised its holdings in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after acquiring an additional 110 shares in the last quarter. DV Equities LLC bought a new position in SBA Communications in the fourth quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its stake in 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 purchasing an additional 84 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications during the 3rd quarter worth approximately $32,000. Finally, High Point Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. KeyCorp boosted their target price on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Barclays increased their price target on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. 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 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 stock an “outperform” rating in a research note on Monday, March 2nd. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.39.

SBA Communications Trading Down 2.3%

Shares of NASDAQ SBAC opened at $179.50 on Tuesday. The company has a market capitalization of $19.04 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.84 and a beta of 0.99. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The stock has a 50 day moving average of $204.68 and a 200-day moving average of $196.18.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s payout ratio is 52.63%.

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.