Motley Fool Wealth Management LLC Lowers Position in SBA Communications Corporation $SBAC

Motley Fool Wealth Management LLC lessened its position in SBA Communications Corporation (NASDAQ:SBAC) by 16.3% in the fourth quarter, HoldingsChannel reports. The firm owned 30,057 shares of the technology company’s stock after selling 5,848 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in SBA Communications were worth $5,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its stake in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% during 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 last quarter. Fulcrum Asset Management LLP purchased a new position in SBA Communications during the third quarter valued at $32,000. High Point Wealth Management LLC purchased a new position in SBA Communications during the fourth quarter valued at $39,000. Finally, Commonwealth Retirement Investments LLC purchased a new position in SBA Communications during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SBAC shares. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Morgan Stanley lifted their price objective 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. Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective for the company. Royal Bank Of Canada lifted their price objective on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Trading Up 2.3%

SBA Communications stock opened at $204.78 on Wednesday. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.00 and a beta of 0.99. The stock has a fifty day simple moving average of $208.60 and a two-hundred day simple moving average of $196.21. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16.

SBA Communications Dividend Announcement

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