Louisiana State Employees Retirement System Acquires New Holdings in SBA Communications Corporation $SBAC

Louisiana State Employees Retirement System purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,400 shares of the technology company’s stock, valued at approximately $929,000.

A number of other large investors have also made changes to their positions in the stock. Elevation Wealth Partners LLC raised its stake in SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. DV Equities LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth about $29,000. Fulcrum Asset Management LLP purchased a new stake in shares of SBA Communications during the third quarter worth about $32,000. Geneos Wealth Management Inc. raised its position in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $184.56 on Monday. The firm’s 50-day simple moving average is $201.84 and its 200-day simple moving average is $195.90. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The firm has a market cap of $19.57 billion, a P/E ratio of 19.43, a PEG ratio of 1.84 and a beta of 1.00.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. SBA Communications’s payout ratio is currently 52.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SBAC shares. Barclays raised their target price on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their price target on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. 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, 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 report on Thursday, April 9th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.39.

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.