Dynasty Wealth Management LLC Acquires Shares of 1,177 SBA Communications Corporation (NASDAQ:SBAC)

Dynasty Wealth Management LLC bought a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,177 shares of the technology company's stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Independence Bank of Kentucky bought a new stake in shares of SBA Communications during the 1st quarter valued at $28,000. Graney & King LLC purchased a new position in shares of SBA Communications during the fourth quarter valued at about $29,000. Allworth Financial LP grew its position in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares in the last quarter. NBC Securities Inc. grew its position in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of SBA Communications during the first quarter valued at about $51,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of SBA Communications in a report on Thursday. They issued a "sector perform" rating and a $252.00 target price on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a report on Tuesday, May 20th. Bank of America assumed coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. UBS Group upped their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley assumed coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $255.31.

SBA Communications Stock Performance

NASDAQ SBAC traded up $1.04 during mid-day trading on Friday, reaching $233.90. 395,556 shares of the stock were exchanged, compared to its average volume of 871,069. The business's 50 day moving average is $230.92 and its 200-day moving average is $220.32. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The company has a market capitalization of $25.13 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.92 and a beta of 0.78.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Insider Transactions at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the transaction, the director directly owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.92% of the stock is currently owned by insiders.

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.