Corient Private Wealth LLC Grows Position in SBA Communications Corporation $SBAC

by · The Cerbat Gem

Corient Private Wealth LLC grew its position in shares of SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 60.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 24,707 shares of the technology company’s stock after buying an additional 9,270 shares during the period. Corient Private Wealth LLC’s holdings in SBA Communications were worth $4,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBAC. Jones Financial Companies Lllp lifted its position in shares of SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares in the last quarter. Empowered Funds LLC lifted its position in shares of SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after acquiring an additional 229 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of SBA Communications by 9.0% in the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after acquiring an additional 266 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake 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 worth $36,000 after acquiring an additional 84 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of SBA Communications by 11.3% during the second quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock worth $22,238,000 after purchasing an additional 9,617 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $183.76 on Friday. The stock 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. The business has a 50-day moving average of $205.52 and a 200 day moving average of $196.21. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16.

SBA Communications Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBAC shares. Truist Financial reaffirmed a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Sanford C. Bernstein began coverage on shares of SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price for the company. Scotiabank raised their price target on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Finally, Barclays upped their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.39.

Check Out Our Latest Research Report on SBA Communications

About SBA Communications

(Free Report)

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.

Further Reading

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