KBC Group NV Sells 6,655 Shares of SBA Communications Corporation $SBAC

KBC Group NV decreased its position in SBA Communications Corporation (NASDAQ:SBAC) by 13.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,127 shares of the technology company’s stock after selling 6,655 shares during the quarter. KBC Group NV’s holdings in SBA Communications were worth $7,422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DV Equities LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth about $29,000. Geneos Wealth Management Inc. increased its holdings in SBA Communications by 105.0% during the 1st 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 during the period. Fulcrum Asset Management LLP purchased a new position in SBA Communications during the 3rd quarter valued at about $32,000. High Point Wealth Management LLC bought a new position in SBA Communications during the 4th quarter valued at approximately $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in SBA Communications during the 4th quarter valued at approximately $39,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

Shares of SBAC opened at $178.02 on Thursday. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16. The company has a 50-day simple moving average of $193.18 and a two-hundred day simple moving average of $195.12. The firm has a market capitalization of $18.88 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00.

SBA Communications Announces Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on SBAC. Weiss Ratings reiterated a “hold (c)” rating on shares of SBA Communications in a report on Monday. Scotiabank upped their target price on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Royal Bank Of Canada dropped their price target on SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Friday, June 26th. They issued a “neutral” rating and a $205.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.