SBA Communications Corporation $SBAC is Boothbay Fund Management LLC’s 6th Largest Position

Boothbay Fund Management LLC lifted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,781 shares of the technology company’s stock after purchasing an additional 52,726 shares during the quarter. SBA Communications comprises approximately 0.5% of Boothbay Fund Management LLC’s portfolio, making the stock its 6th biggest position. Boothbay Fund Management LLC owned about 0.17% of SBA Communications worth $35,162,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Polar Asset Management Partners Inc. raised its stake in shares of SBA Communications by 168.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 27,600 shares of the technology company’s stock worth $5,339,000 after purchasing an additional 17,300 shares during the last quarter. DV Equities LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth approximately $29,000. Abel Hall LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth approximately $200,000. Lazard Asset Management LLC raised its stake in shares of SBA Communications by 27.4% during the fourth quarter. Lazard Asset Management LLC now owns 248,476 shares of the technology company’s stock worth $48,063,000 after purchasing an additional 53,372 shares during the last quarter. Finally, Jain Global LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth approximately $508,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBA Communications stock opened at $191.57 on Thursday. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The stock’s fifty day moving average is $209.89 and its two-hundred day moving average is $196.44.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.6%. SBA Communications’s dividend payout ratio is 52.63%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SBAC. Barclays increased 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 upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada increased their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Wells Fargo & Company increased 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. Finally, Truist Financial reiterated a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.