Motley Fool Asset Management LLC Sells 3,500 Shares of SBA Communications Corporation $SBAC

Motley Fool Asset Management LLC cut its position in SBA Communications Corporation (NASDAQ:SBAC) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,845 shares of the technology company’s stock after selling 3,500 shares during the quarter. Motley Fool Asset Management LLC’s holdings in SBA Communications were worth $10,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC grew its stake in shares of SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Geneos Wealth Management Inc. grew its stake 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 valued at $36,000 after buying an additional 84 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of SBA Communications in the third quarter valued at $32,000. High Point Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter valued at $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of SBA Communications in the fourth quarter valued at $39,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

SBAC stock opened at $204.78 on Wednesday. The company has a fifty day moving average price of $208.60 and a two-hundred day moving average price of $196.21. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16. The stock has a market cap of $21.72 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.

SBA Communications Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Morgan Stanley raised their target price on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Barclays raised their target price on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. One equities research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $237.22.

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.