Milford Funds Ltd. Buys New Shares in SBA Communications Corporation $SBAC

Milford Funds Ltd. bought a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 71,110 shares of the technology company’s stock, valued at approximately $13,755,000.

A number of other large investors also recently modified their holdings of SBAC. Jones Financial Companies Lllp lifted its stake in shares of SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after buying an additional 229 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after buying an additional 266 shares in the last quarter. Geneos Wealth Management Inc. lifted 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 in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of SBA Communications by 11.3% during the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock valued at $22,238,000 after buying an additional 9,617 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $204.79 on Friday. The company has a market cap of $21.72 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.03 and a beta of 0.99. The firm’s fifty day moving average is $210.64 and its two-hundred day moving average is $196.42. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s payout ratio is 52.63%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of analyst reports. 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. Barclays lifted their target price on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada lifted their price target on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Finally, Sanford C. Bernstein started coverage on shares of SBA Communications in a report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price target on the stock. One equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.22.

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.