SBA Communications Corporation $SBAC Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 18.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,832 shares of the technology company’s stock after selling 4,369 shares during the quarter. Vestcor Inc’s holdings in SBA Communications were worth $3,643,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fortune Financial Advisors LLC raised its holdings in shares of SBA Communications by 2.4% in the third quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock valued at $432,000 after buying an additional 53 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of SBA Communications by 3.6% in the third quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company’s stock valued at $332,000 after buying an additional 60 shares during the last quarter. Choreo LLC raised its holdings in shares of SBA Communications by 1.1% in the third quarter. Choreo LLC now owns 6,047 shares of the technology company’s stock valued at $1,169,000 after buying an additional 63 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of SBA Communications by 1.1% in the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of SBA Communications by 47.6% in the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after buying an additional 80 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on SBAC shares. Sanford C. Bernstein started coverage on shares of SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective for the company. Scotiabank boosted their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wells Fargo & Company upped their target price on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. Finally, Truist Financial restated a “buy” rating and set a $248.00 target price (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, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Stock Up 0.1%

SBAC stock opened at $208.02 on Friday. The business’s fifty day moving average is $207.16 and its 200-day moving average is $196.13. The company has a market cap of $22.06 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.99. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $243.16.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 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.