Goldman Sachs Group Inc. Acquires 245,939 Shares of SBA Communications Corporation $SBAC

Goldman Sachs Group Inc. increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 24.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,239,905 shares of the technology company’s stock after buying an additional 245,939 shares during the period. Goldman Sachs Group Inc.’s holdings in SBA Communications were worth $239,835,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SBAC. Jones Financial Companies Lllp grew its holdings in shares of SBA Communications by 272.8% during the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after buying an additional 551 shares in the last quarter. Empowered Funds LLC grew 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 worth $449,000 after buying an additional 229 shares in the last quarter. Focus Partners Wealth grew 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 worth $712,000 after buying an additional 266 shares in the last quarter. Geneos Wealth Management Inc. grew 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 worth $36,000 after buying an additional 84 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of SBA Communications by 11.3% during the second quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock worth $22,238,000 after buying an additional 9,617 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SBAC shares. Barclays increased their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Royal Bank Of Canada increased their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Truist Financial reiterated 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. Morgan Stanley increased their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Finally, Scotiabank increased their price target on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. One 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 company. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $208.02 on Friday. The stock has a 50 day moving average price of $207.16 and a 200 day moving average price of $196.13. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $243.16. The stock has a market capitalization of $22.06 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.99.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

SBA Communications Company 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.