Healthcare of Ontario Pension Plan Trust Fund Purchases 139,961 Shares of SBA Communications Corporation $SBAC

Healthcare of Ontario Pension Plan Trust Fund boosted its position in SBA Communications Corporation (NASDAQ:SBAC) by 3,292.4% during the fourth quarter, HoldingsChannel reports. The fund owned 144,212 shares of the technology company’s stock after buying an additional 139,961 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in SBA Communications were worth $27,895,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. Jones Financial Companies Lllp raised its stake in SBA Communications by 272.8% in the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after acquiring an additional 551 shares during the period. Empowered Funds LLC increased its position 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 valued at $449,000 after buying an additional 229 shares during the period. Focus Partners Wealth increased its position 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 valued at $712,000 after buying an additional 266 shares during the period. Geneos Wealth Management Inc. increased its position 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 valued at $36,000 after buying an additional 84 shares during the period. Finally, First Trust Advisors LP increased its position 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 valued at $22,238,000 after buying an additional 9,617 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Down 4.4%

SBAC stock opened at $195.82 on Tuesday. The company’s 50 day moving average is $210.48 and its 200 day moving average is $196.46. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, May 22nd. SBA Communications’s dividend payout ratio is 52.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBAC shares. Scotiabank upped 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. KeyCorp upped their price target on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley upped their price target on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company upped their price target on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.