SBA Communications Corporation $SBAC Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 170.6% during the 1st quarter, Holdings Channel reports. The firm owned 469,911 shares of the technology company’s stock after acquiring an additional 296,231 shares during the quarter. SG Americas Securities LLC’s holdings in SBA Communications were worth $80,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SBAC. Dodge & Cox lifted its holdings in shares of SBA Communications by 24.1% during the fourth quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after purchasing an additional 2,328,837 shares during the period. Norges Bank purchased a new stake in SBA Communications in the fourth quarter valued at $302,774,000. Arrowstreet Capital Limited Partnership boosted its holdings in SBA Communications by 256.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock valued at $211,344,000 after purchasing an additional 785,850 shares during the last quarter. Millennium Management LLC boosted its stake in shares of SBA Communications by 171.8% in the fourth quarter. Millennium Management LLC now owns 811,543 shares of the technology company’s stock worth $156,977,000 after buying an additional 513,002 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in SBA Communications by 36.1% during the third quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock worth $245,043,000 after acquiring an additional 336,071 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC opened at $187.59 on Tuesday. The stock has a market cap of $19.90 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The firm has a fifty day moving average price of $208.26 and a 200 day moving average price of $196.38.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were paid a $1.25 dividend. This represents a $5.00 annualized dividend 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%.

Wall Street Analyst Weigh In

Several analysts recently commented on SBAC shares. Morgan Stanley raised their price target on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Sanford C. Bernstein began coverage on SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price on the stock. KeyCorp boosted 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. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Finally, Scotiabank raised their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.22.

About SBA Communications

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.