Moran Wealth Management LLC Has $14.05 Million Stock Holdings in SBA Communications Corporation $SBAC

Moran Wealth Management LLC grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,611 shares of the technology company’s stock after purchasing an additional 5,325 shares during the period. Moran Wealth Management LLC owned about 0.08% of SBA Communications worth $14,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Elevation Wealth Partners LLC raised its holdings in SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares during the period. DV Equities LLC purchased a new stake in SBA Communications during the fourth quarter valued at about $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications in the third quarter worth about $32,000. Finally, High Point Wealth Management LLC acquired a new position in shares of SBA Communications in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SBAC. Barclays boosted their price target on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Scotiabank raised 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 note on Friday, May 1st. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research report on Friday, June 26th. They set a “neutral” rating and a $205.00 price objective on the stock. KeyCorp boosted their target price on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company increased their target price on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.39.

SBA Communications Price Performance

NASDAQ:SBAC opened at $184.56 on Friday. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The stock’s 50-day moving average is $201.84 and its two-hundred day moving average is $195.88. The stock has a market cap of $19.57 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) 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.