SBA Communications Corporation $SBAC Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 43.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,581 shares of the technology company’s stock after selling 2,795 shares during the period. Sterling Capital Management LLC’s holdings in SBA Communications were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Dodge & Cox grew its stake in 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 in the last quarter. State Street Corp lifted its stake in SBA Communications by 3.3% in the 4th quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock worth $950,054,000 after purchasing an additional 158,738 shares in the last quarter. Geode Capital Management LLC lifted its stake in SBA Communications by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock worth $594,655,000 after purchasing an additional 16,153 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of SBA Communications by 9.7% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after purchasing an additional 179,591 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of SBA Communications by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after purchasing an additional 9,656 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SBAC shares. KeyCorp increased their price target on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley upped their target price on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Barclays raised their target price on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial reiterated a “buy” rating and set a $248.00 price target (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group started coverage on shares of SBA Communications in a research report on Friday, June 26th. They set a “neutral” rating and a $205.00 price target on the stock. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.39.

SBA Communications Stock Performance

SBAC stock opened at $180.75 on Thursday. The firm has a market cap of $19.17 billion, a PE ratio of 19.03, a PEG ratio of 1.76 and a beta of 1.00. The firm’s 50 day moving average price is $202.95 and its 200-day moving average price is $196.01. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16.

SBA Communications Announces Dividend

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