Drucker Wealth 3.0 LLC Takes $706,000 Position in SBA Communications Corporation $SBAC

Drucker Wealth 3.0 LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,102 shares of the technology company’s stock, valued at approximately $706,000.

Other hedge funds have also added to or reduced their stakes in the company. Choreo LLC grew its stake in SBA Communications by 1.1% in the third quarter. Choreo LLC now owns 6,047 shares of the technology company’s stock valued at $1,169,000 after acquiring an additional 63 shares during the period. Norinchukin Bank The increased its holdings in shares of SBA Communications by 1.1% in the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after acquiring an additional 68 shares in the last quarter. Fortune Financial Advisors LLC raised its position in shares of SBA Communications by 3.3% during the fourth quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after purchasing an additional 73 shares during the period. Larson Financial Group LLC lifted its holdings in shares of SBA Communications by 47.6% during the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after purchasing an additional 80 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of SBA Communications by 20.3% during the 4th quarter. Quarry LP now owns 475 shares of the technology company’s stock valued at $92,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Wells Fargo & Company upped their price target on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. KeyCorp increased their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Truist Financial restated a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.39.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $179.50 on Tuesday. The stock has a 50-day simple moving average of $204.68 and a 200 day simple moving average of $196.18. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16. The company has a market cap of $19.04 billion, a PE ratio of 18.89, a PEG ratio of 1.84 and a beta of 0.99.

SBA Communications Announces Dividend

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

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.