SBA Communications Corporation $SBAC Shares Sold by National Pension Service

National Pension Service lowered its stake in SBA Communications Corporation (NASDAQ:SBAC) by 82.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,366 shares of the technology company’s stock after selling 154,288 shares during the quarter. National Pension Service’s holdings in SBA Communications were worth $6,454,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SBAC. Dodge & Cox lifted its holdings in SBA Communications by 12.3% in the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after purchasing an additional 1,058,803 shares during the period. Vanguard Group Inc. lifted its holdings in SBA Communications by 2.3% in 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 acquiring an additional 403,285 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in SBA Communications by 24.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock valued at $358,728,000 after acquiring an additional 366,491 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in SBA Communications by 36.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock valued at $245,043,000 after acquiring an additional 336,071 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in SBA Communications by 8,722.0% in the 4th quarter. M&T Bank Corp now owns 263,601 shares of the technology company’s stock valued at $50,988,000 after acquiring an additional 260,613 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of research analyst reports. Scotiabank upped their price target on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Barclays upped their price target on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley upped their price target on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $248.00 price target (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Price Performance

Shares of SBAC opened at $204.05 on Tuesday. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.03 and a beta of 0.99. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The business’s 50-day moving average is $204.55 and its 200-day moving average is $195.99.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.5%. SBA Communications’s dividend payout ratio is currently 52.63%.

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.