SBA Communications Corporation $SBAC Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 51.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,462 shares of the technology company’s stock after selling 128,014 shares during the quarter. Lazard Asset Management LLC owned about 0.11% of SBA Communications worth $20,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SBAC. J. Safra Sarasin Holding AG grew its stake in SBA Communications by 4.0% during the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock worth $275,000 after buying an additional 62 shares during the last quarter. Norinchukin Bank The lifted its stake in SBA Communications by 1.1% in the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares during the last quarter. Fortune Financial Advisors LLC lifted its stake in SBA Communications by 3.3% in the fourth quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock valued at $447,000 after buying an additional 73 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of SBA Communications by 47.6% during the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after acquiring an additional 80 shares during the period. Finally, Quarry LP boosted its holdings in shares of SBA Communications by 20.3% during the fourth quarter. Quarry LP now owns 475 shares of the technology company’s stock valued at $92,000 after acquiring an additional 80 shares during the period. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SBAC shares. Morgan Stanley upped their price target on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Royal Bank Of Canada cut their price objective on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Friday, June 26th. They set a “neutral” rating and a $205.00 target price for the company. Scotiabank upped their target price on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, Truist Financial restated a “buy” rating and issued a $248.00 price target (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. One investment 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 company. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $235.28.

SBA Communications Stock Performance

Shares of SBAC stock opened at $174.93 on Wednesday. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $234.64. The firm has a market capitalization of $18.55 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The stock has a fifty day moving average of $190.87 and a two-hundred day moving average of $194.73.

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.