Healthcare of Ontario Pension Plan Trust Fund Acquires 139,961 Shares of SBA Communications Corporation $SBAC

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 3,292.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,212 shares of the technology company’s stock after purchasing an additional 139,961 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.14% of SBA Communications worth $27,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Jones Financial Companies Lllp increased its stake in SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after purchasing an additional 551 shares in the last quarter. Empowered Funds LLC increased its stake in SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after purchasing an additional 229 shares in the last quarter. Focus Partners Wealth increased its stake in SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after purchasing an additional 266 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 worth $36,000 after acquiring an additional 84 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in SBA Communications by 11.3% during the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock worth $22,238,000 after acquiring an additional 9,617 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBAC shares. Sanford C. Bernstein started coverage on shares of SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective on the stock. KeyCorp lifted their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Truist Financial reaffirmed a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Barclays lifted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $237.22.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $195.82 on Tuesday. The company’s 50-day moving average is $210.48 and its 200 day moving average is $196.46. The company has a market capitalization of $20.77 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.04 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.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, May 22nd. SBA Communications’s payout ratio is currently 52.63%.

About SBA Communications

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.