SBA Communications Corporation $SBAC Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,879 shares of the technology company’s stock after purchasing an additional 32,865 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of SBA Communications worth $38,082,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SBAC. Elevation Wealth Partners LLC increased its holdings in shares of SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications during the third quarter valued at $32,000. Geneos Wealth Management Inc. increased its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the period. High Point Wealth Management LLC acquired a new position in shares of SBA Communications during the fourth quarter valued at $39,000. Finally, Stance Capital LLC acquired a new position in shares of SBA Communications during the third quarter valued at $45,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 0.2%

Shares of SBAC stock opened at $196.58 on Thursday. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The stock has a market capitalization of $20.85 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.96 and a beta of 0.99. The stock has a 50-day simple moving average of $205.48 and a 200 day simple moving average of $195.97.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be given 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 (DPR) is 52.63%.

Wall Street Analyst Weigh In

SBAC has been the subject of several research reports. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada raised their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Truist Financial reaffirmed a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. KeyCorp raised their target price on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company raised their target price on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

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.