Entropy Technologies LP Buys Shares of 51,407 SBA Communications Corporation $SBAC

Entropy Technologies LP bought a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the first quarter, HoldingsChannel.com reports. The fund bought 51,407 shares of the technology company’s stock, valued at approximately $8,848,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sustainable Insight Capital Management LLC boosted its holdings in SBA Communications by 300.5% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 4,265 shares of the technology company’s stock valued at $734,000 after acquiring an additional 3,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in SBA Communications by 45.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 209,290 shares of the technology company’s stock worth $36,021,000 after purchasing an additional 65,078 shares during the period. Morningstar Investment Management LLC lifted its position in shares of SBA Communications by 8.6% during the first quarter. Morningstar Investment Management LLC now owns 10,144 shares of the technology company’s stock worth $1,746,000 after purchasing an additional 800 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of SBA Communications by 47.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,615,054 shares of the technology company’s stock valued at $277,967,000 after purchasing an additional 522,442 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of SBA Communications by 7.1% during the first quarter. Sei Investments Co. now owns 672,105 shares of the technology company’s stock valued at $115,673,000 after purchasing an additional 44,586 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SBA Communications in a research note on Monday. Barclays upped their target price on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial reaffirmed a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research note on Friday, June 26th. They set a “neutral” rating and a $205.00 price target for the company. Finally, Morgan Stanley increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.28.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $173.57 on Friday. The stock has a market cap 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’s 50-day moving average is $192.13 and its two-hundred day moving average is $194.85. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $235.70.

SBA Communications Dividend Announcement

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