SBA Communications Corporation $SBAC Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 256.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,092,612 shares of the technology company’s stock after purchasing an additional 785,850 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in SBA Communications were worth $211,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. Elevation Wealth Partners LLC raised its holdings in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. increased its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the period. High Point Wealth Management LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $39,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $204.79 on Monday. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The company has a 50-day moving average of $210.64 and a 200-day moving average of $196.44. The company has a market cap of $21.72 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.04 and a beta of 0.99.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors 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 annualized dividend and a yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

Wall Street Analyst Weigh In

SBAC has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada boosted their target price on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, KeyCorp upped their target price on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $237.22.

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.