Centersquare Investment Management LLC Has $18.66 Million Stock Holdings in SBA Communications Corporation $SBAC

Centersquare Investment Management LLC decreased its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 37.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 96,447 shares of the technology company’s stock after selling 57,618 shares during the quarter. Centersquare Investment Management LLC’s holdings in SBA Communications were worth $18,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its stake in SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares during the period. Geneos Wealth Management Inc. raised 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 buying an additional 84 shares during the period. Fulcrum Asset Management LLP bought a new stake in SBA Communications in the third quarter valued at approximately $32,000. High Point Wealth Management LLC bought a new stake in SBA Communications in the fourth quarter valued at approximately $39,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in SBA Communications in the fourth quarter valued at approximately $39,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SBAC. Wells Fargo & Company upped their price objective on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Barclays upped their price objective on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein began coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective on the stock. Finally, KeyCorp increased their target price on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Trading Down 1.8%

Shares of NASDAQ SBAC opened at $203.65 on Friday. The firm has a market cap of $21.60 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.07 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. The business’s 50 day moving average is $209.98 and its 200-day moving average is $196.36.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be paid a dividend of $1.25 per share. 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 (DPR) 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.