Banque Cantonale Vaudoise Sells 12,440 Shares of SBA Communications Corporation $SBAC

Banque Cantonale Vaudoise reduced its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 95.7% in the first quarter, HoldingsChannel reports. The firm owned 553 shares of the technology company’s stock after selling 12,440 shares during the period. Banque Cantonale Vaudoise’s holdings in SBA Communications were worth $95,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SBAC. Dodge & Cox grew its stake in SBA Communications by 24.1% in the fourth quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after purchasing an additional 2,328,837 shares during the last quarter. State Street Corp boosted its holdings in shares of SBA Communications by 3.3% in the 4th quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock valued at $950,054,000 after buying an additional 158,738 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of SBA Communications by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after buying an additional 16,153 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of SBA Communications by 9.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after buying an additional 179,591 shares during the last quarter. Finally, Invesco Ltd. raised its stake 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 acquiring an additional 9,656 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 2.3%

Shares of SBA Communications stock opened at $179.50 on Tuesday. The firm’s 50 day simple moving average is $204.68 and its two-hundred day simple moving average is $196.18. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.84 and a beta of 0.99. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $243.16.

SBA Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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. Barclays lifted their price target on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley upped their price target on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Truist Financial reissued 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. Finally, The Goldman Sachs Group began coverage on SBA Communications in a research note on Friday. They set a “neutral” rating and a $205.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, SBA Communications currently has a consensus 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.