Sustainable Insight Capital Management LLC Has $734,000 Stock Holdings in SBA Communications Corporation $SBAC

Sustainable Insight Capital Management LLC boosted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 300.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,265 shares of the technology company’s stock after acquiring an additional 3,200 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. DV Equities LLC acquired a new position in shares of SBA Communications during the fourth quarter worth $29,000. Geneos Wealth Management Inc. increased its holdings in 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 purchasing an additional 84 shares during the period. Fulcrum Asset Management LLP acquired a new stake in SBA Communications in the third quarter valued at $32,000. High Point Wealth Management LLC bought a new position in SBA Communications during the 4th quarter worth $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in SBA Communications during the 4th quarter worth $39,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.7%

NASDAQ:SBAC opened at $173.57 on Friday. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $235.70. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.75 and a beta of 1.00. The firm has a fifty day simple moving average of $192.13 and a two-hundred day simple moving average of $194.85.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.9%. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their price target on SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a research report on Monday. The Goldman Sachs Group assumed coverage on SBA Communications in a research note on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective on the stock. Wells Fargo & Company upgraded SBA Communications from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $220.00 to $210.00 in a report on Friday, July 17th. Finally, KeyCorp increased their target price on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $235.28.

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.