2,953 Shares in SBA Communications Corporation $SBAC Bought by Diversified Trust Co

Diversified Trust Co bought a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 1st quarter, Holdings Channel reports. The institutional investor bought 2,953 shares of the technology company’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. Jones Financial Companies Lllp boosted its holdings in SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after acquiring an additional 551 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of SBA Communications by 12.6% during the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after acquiring an additional 229 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after acquiring an additional 266 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of 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 acquiring an additional 84 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of SBA Communications by 11.3% in the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock valued at $22,238,000 after purchasing an additional 9,617 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBAC has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. KeyCorp upped their target price on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada raised their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Wells Fargo & Company boosted their price target 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. Finally, Weiss Ratings raised 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 given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Price Performance

NASDAQ:SBAC opened at $180.95 on Friday. The company has a 50 day moving average price of $206.13 and a 200-day moving average price of $196.30. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.85 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.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.8%. SBA Communications’s dividend payout ratio (DPR) is presently 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.