Centersquare Investment Management LLC Has $18.66 Million Stake in SBA Communications Corporation $SBAC

Centersquare Investment Management LLC reduced its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 37.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,447 shares of the technology company’s stock after selling 57,618 shares during the period. Centersquare Investment Management LLC owned about 0.09% of SBA Communications worth $18,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SBAC. Norges Bank acquired a new position in shares of SBA Communications during the fourth quarter worth about $302,774,000. Dodge & Cox boosted its position in shares of SBA Communications by 12.3% during the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after buying an additional 1,058,803 shares during the period. Vanguard Group Inc. boosted its position in shares of SBA Communications by 2.3% during the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after buying an additional 403,285 shares during the period. Ameriprise Financial Inc. boosted its position in shares of 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 buying an additional 336,071 shares during the period. Finally, M&T Bank Corp boosted its position in shares of SBA Communications by 8,722.0% during the fourth quarter. M&T Bank Corp now owns 263,601 shares of the technology company’s stock worth $50,988,000 after buying an additional 260,613 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $203.65 on Friday. The stock has a 50 day moving average price of $209.98 and a 200 day moving average price of $196.36. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $243.16. The stock has a market capitalization of $21.60 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.99.

SBA Communications Dividend Announcement

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 dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.5%. SBA Communications’s dividend payout ratio is 52.63%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Barclays upped their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. KeyCorp upped their price objective on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley upped their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. One equities research 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’s stock. Based on data from MarketBeat.com, the company 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.