Y Intercept Hong Kong Ltd Has $4.65 Million Stock Holdings in SBA Communications Corporation $SBAC

Y Intercept Hong Kong Ltd lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 441.0% during the first quarter, HoldingsChannel reports. The firm owned 26,997 shares of the technology company’s stock after buying an additional 22,007 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in SBA Communications were worth $4,646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Norinchukin Bank The increased its position in shares of SBA Communications by 1.1% in the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares in the last quarter. Fortune Financial Advisors LLC lifted its holdings in SBA Communications by 3.3% during the fourth quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after acquiring an additional 73 shares in the last quarter. Larson Financial Group LLC grew its stake in SBA Communications by 47.6% in the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after acquiring an additional 80 shares during the period. Quarry LP grew its stake in SBA Communications by 20.3% in the fourth quarter. Quarry LP now owns 475 shares of the technology company’s stock valued at $92,000 after acquiring an additional 80 shares during the period. Finally, Vanderbilt University increased its holdings in shares of SBA Communications by 0.7% in the fourth quarter. Vanderbilt University now owns 11,843 shares of the technology company’s stock worth $2,291,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research analyst reports. Barclays raised their price target on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group started coverage on SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective for the company. Morgan Stanley increased their target price on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Scotiabank lifted their price target on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, KeyCorp lifted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.39.

SBA Communications Stock Performance

SBAC stock opened at $184.56 on Monday. The stock has a 50-day moving average price of $201.84 and a two-hundred day moving average price of $195.90. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $243.16. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were given 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 of this dividend was Friday, May 22nd. SBA Communications’s dividend payout ratio is currently 52.63%.

SBA Communications 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.