BI Asset Management Fondsmaeglerselskab A S Has $699,000 Stock Position in SBA Communications Corporation $SBAC

BI Asset Management Fondsmaeglerselskab A S lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 44.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,064 shares of the technology company’s stock after selling 3,192 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in SBA Communications were worth $699,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SBAC. Aberdeen Group plc grew its position in shares of SBA Communications by 12.4% in the 4th quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock valued at $39,160,000 after purchasing an additional 22,293 shares during the period. OFI Invest Asset Management acquired a new stake in SBA Communications during the 4th quarter worth approximately $17,915,000. Nordea Investment Management AB lifted its stake in SBA Communications by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock valued at $241,234,000 after buying an additional 63,323 shares in the last quarter. VCI Wealth Management LLC bought a new position in SBA Communications in the fourth quarter valued at approximately $1,786,000. Finally, M&T Bank Corp boosted its holdings in shares of SBA Communications by 8,722.0% in the fourth quarter. M&T Bank Corp now owns 263,601 shares of the technology company’s stock valued at $50,988,000 after buying an additional 260,613 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SBAC shares. Scotiabank increased their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. KeyCorp upped their price objective on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Sanford C. Bernstein assumed coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective for the company. Wells Fargo & Company lifted their target price 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. Finally, Royal Bank Of Canada boosted their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. One investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Trading Down 2.4%

SBA Communications stock opened at $180.95 on Friday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The company has a fifty day simple moving average of $206.13 and a 200 day simple moving average of $196.30. The company has a market cap of $19.19 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.8%. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

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.