Schwartz Investment Counsel Inc. Decreases Stock Holdings in SBA Communications Corporation $SBAC

Schwartz Investment Counsel Inc. lowered its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 75.6% in the first quarter, HoldingsChannel.com reports. The firm owned 40,000 shares of the technology company’s stock after selling 124,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in SBA Communications were worth $6,884,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Elevation Wealth Partners LLC raised its stake in SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. DV Equities LLC acquired a new position in shares of SBA Communications during the 4th quarter worth about $29,000. Geneos Wealth Management Inc. boosted its position 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 worth $36,000 after acquiring an additional 84 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of SBA Communications in the 3rd quarter valued at about $32,000. Finally, High Point Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research analyst reports. Scotiabank upped their price target on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. KeyCorp boosted their price objective 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 upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada lowered their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday. Finally, Barclays lifted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.83.

SBA Communications Stock Down 1.5%

Shares of NASDAQ SBAC opened at $187.10 on Tuesday. The business has a 50-day moving average price of $197.77 and a 200 day moving average price of $195.62. The stock has a market cap of $19.84 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.00. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s dividend payout ratio is presently 52.63%.

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.