SBA Communications Corporation $SBAC Shares Sold by Fox Run Management L.L.C.

by · The Markets Daily

Fox Run Management L.L.C. decreased its position in SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 59.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,860 shares of the technology company’s stock after selling 8,420 shares during the quarter. Fox Run Management L.L.C.’s holdings in SBA Communications were worth $1,134,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Aberdeen Group plc lifted its holdings in shares of SBA Communications by 12.4% in the fourth quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock valued at $39,160,000 after buying an additional 22,293 shares during the period. OFI Invest Asset Management acquired a new stake in shares of SBA Communications in the fourth quarter valued at $17,915,000. Nordea Investment Management AB lifted its holdings in shares of SBA Communications by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock valued at $241,234,000 after buying an additional 63,323 shares during the period. VCI Wealth Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at $1,786,000. Finally, ProShare Advisors LLC lifted its holdings in shares of SBA Communications by 27.5% in the third quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock valued at $7,538,000 after buying an additional 8,404 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Morgan Stanley upped their price objective on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Truist Financial restated a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Scotiabank upped their target price on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Barclays upped their target price on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One 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 stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $237.22.

View Our Latest Stock Analysis on SBAC

SBA Communications Stock Up 2.3%

Shares of NASDAQ SBAC opened at $204.78 on Wednesday. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The company has a market cap of $21.72 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 2.00 and a beta of 0.99. The business has a fifty day simple moving average of $208.60 and a 200-day simple moving average of $196.21.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s dividend payout ratio is currently 52.63%.

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.

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