BROOKFIELD Corp ON Buys 987,647 Shares of SBA Communications Co. (NASDAQ:SBAC)

BROOKFIELD Corp ON lifted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 27,449.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 991,245 shares of the technology company's stock after purchasing an additional 987,647 shares during the period. SBA Communications accounts for about 1.2% of BROOKFIELD Corp ON's investment portfolio, making the stock its 15th biggest position. BROOKFIELD Corp ON owned approximately 0.92% of SBA Communications worth $202,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter worth approximately $27,000. Graney & King LLC bought a new position in SBA Communications in the fourth quarter worth approximately $29,000. Oakworth Capital Inc. raised its stake in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the fourth quarter worth $56,000. Finally, Versant Capital Management Inc boosted its position in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 0.0 %

Shares of NASDAQ SBAC opened at $241.95 on Tuesday. The stock has a market cap of $26.04 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The company has a 50 day simple moving average of $222.17 and a two-hundred day simple moving average of $216.18.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.84%. SBA Communications's dividend payout ratio is presently 60.91%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SBAC. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Citigroup raised their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley initiated coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective on the stock. Barclays raised their target price on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.38.

Insiders Place Their Bets

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director now owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

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