Corient Private Wealth LLC Purchases 9,270 Shares of SBA Communications Corporation $SBAC

Corient Private Wealth LLC lifted its position in SBA Communications Corporation (NASDAQ:SBAC) by 60.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,707 shares of the technology company’s stock after purchasing an additional 9,270 shares during the quarter. Corient Private Wealth LLC’s holdings in SBA Communications were worth $4,780,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Elevation Wealth Partners LLC lifted its holdings in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after acquiring an additional 110 shares during the last quarter. DV Equities LLC purchased a new position in SBA Communications during the 4th quarter valued at $29,000. Fulcrum Asset Management LLP bought a new position in SBA Communications in the third quarter worth about $32,000. Geneos Wealth Management Inc. boosted its position 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 in the last quarter. Finally, High Point Wealth Management LLC bought a new position in shares of SBA Communications in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 1.6%

Shares of NASDAQ:SBAC opened at $183.76 on Friday. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $243.16. The firm has a 50 day moving average of $205.52 and a 200 day moving average of $196.21. The company has a market capitalization of $19.49 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SBAC shares. Morgan Stanley lifted their price objective on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Royal Bank Of Canada increased their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Sanford C. Bernstein initiated coverage on shares of SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target on the stock. Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted 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 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.39.

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.