SBA Communications Corporation $SBAC Shares Sold by LM Advisors LLC

LM Advisors LLC trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 94.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 415 shares of the technology company’s stock after selling 6,688 shares during the period. LM Advisors LLC’s holdings in SBA Communications were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBAC. Dodge & Cox lifted its position in shares of SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after acquiring an additional 2,328,837 shares during the period. Norges Bank acquired a new position in shares of SBA Communications during the 4th quarter worth approximately $302,774,000. Arrowstreet Capital Limited Partnership raised its position in shares of SBA Communications by 256.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock worth $211,344,000 after purchasing an additional 785,850 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after purchasing an additional 403,285 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of SBA Communications by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock worth $245,043,000 after purchasing an additional 336,071 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the subject of several research reports. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Scotiabank lifted their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Truist Financial restated a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Finally, Barclays lifted their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Stock Performance

Shares of SBAC stock opened at $204.79 on Friday. The firm has a market capitalization of $21.72 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16. The company has a 50 day moving average price of $210.64 and a 200 day moving average price of $196.42.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. 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.