32,293 Shares in SBA Communications Corporation $SBAC Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 32,293 shares of the technology company’s stock, valued at approximately $6,249,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBAC. Elevation Wealth Partners LLC lifted its holdings in SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in SBA Communications during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. raised its holdings in 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 buying an additional 84 shares during the period. High Point Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter worth about $39,000. Finally, Stance Capital LLC acquired a new stake in SBA Communications during the 3rd quarter worth about $45,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Scotiabank boosted their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Sanford C. Bernstein assumed coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective on the stock. Morgan Stanley boosted their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Royal Bank Of Canada boosted their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Finally, Barclays boosted their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.22.

SBA Communications Price Performance

Shares of SBAC opened at $204.05 on Tuesday. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.03 and a beta of 0.99. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The business’s 50-day moving average is $204.55 and its 200-day moving average is $195.99.

SBA Communications Dividend Announcement

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 2.5%. SBA Communications’s dividend payout ratio is currently 52.63%.

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.