BI Asset Management Fondsmaeglerselskab A S Has $699,000 Stock Holdings in SBA Communications Corporation $SBAC

BI Asset Management Fondsmaeglerselskab A S decreased its position in SBA Communications Corporation (NASDAQ:SBAC) by 44.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,064 shares of the technology company’s stock after selling 3,192 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in SBA Communications were worth $699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new stake in SBA Communications in the first quarter worth about $508,000. Hsbc Holdings PLC lifted its position in SBA Communications by 10.0% during the 4th quarter. Hsbc Holdings PLC now owns 179,229 shares of the technology company’s stock valued at $34,696,000 after purchasing an additional 16,265 shares during the period. Corient Private Wealth LLC boosted its stake in shares of SBA Communications by 60.1% in the 4th quarter. Corient Private Wealth LLC now owns 24,707 shares of the technology company’s stock valued at $4,780,000 after purchasing an additional 9,270 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in shares of SBA Communications by 124.0% in the 4th quarter. Kera Capital Partners Inc. now owns 3,448 shares of the technology company’s stock valued at $635,000 after purchasing an additional 1,909 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of SBA Communications by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after buying an additional 9,656 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC stock opened at $180.95 on Friday. The stock has a market cap of $19.19 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99. The stock has a 50-day moving average of $206.13 and a 200-day moving average of $196.30. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were issued a dividend of $1.25 per share. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.8%. SBA Communications’s payout ratio is currently 52.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SBAC shares. Barclays boosted 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. KeyCorp raised their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Morgan Stanley lifted their target price on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Wells Fargo & Company upped their target price on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. One equities research 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. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $237.22.

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.