SBA Communications Corporation $SBAC Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 4.1% in the first quarter, HoldingsChannel reports. The firm owned 101,398 shares of the technology company’s stock after selling 4,386 shares during the period. Maryland State Retirement & Pension System’s holdings in SBA Communications were worth $17,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Elevation Wealth Partners LLC increased its holdings in SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares during the last quarter. DV Equities LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its stake in shares of SBA Communications by 105.0% during the 1st 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 last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of SBA Communications during the third quarter worth approximately $32,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SBAC. Wells Fargo & Company upped their price target on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Barclays raised their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley boosted their target price 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. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Finally, KeyCorp increased their price target on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.83.

SBA Communications Trading Up 0.1%

Shares of NASDAQ SBAC opened at $187.25 on Wednesday. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $243.16. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The business has a 50 day simple moving average of $197.16 and a 200-day simple moving average of $195.59.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s payout ratio 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.