Entropy Technologies LP Invests $8.85 Million in SBA Communications Corporation $SBAC

Entropy Technologies LP bought a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 51,407 shares of the technology company’s stock, valued at approximately $8,848,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Aberdeen Group plc grew its stake in SBA Communications by 12.4% during the fourth quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock valued at $39,160,000 after acquiring an additional 22,293 shares in the last quarter. OFI Invest Asset Management purchased a new stake in SBA Communications in the 4th quarter worth $17,915,000. VCI Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter valued at about $1,786,000. M&T Bank Corp grew its position in shares of SBA Communications by 8,722.0% during the fourth quarter. M&T Bank Corp now owns 263,601 shares of the technology company’s stock valued at $50,988,000 after purchasing an additional 260,613 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of SBA Communications by 5.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company’s stock valued at $46,067,000 after purchasing an additional 14,317 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of research reports. Morgan Stanley increased their price target on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $220.00 to $210.00 in a report on Friday, July 17th. Scotiabank increased their target price on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Royal Bank Of Canada cut their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Finally, 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 research note 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.28.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $173.57 on Friday. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The stock has a 50 day moving average price of $192.13 and a 200-day moving average price of $194.85. SBA Communications Corporation has a one year low of $162.41 and a one year high of $235.70.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s payout ratio is presently 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.