12,564 Shares in SBA Communications Corporation $SBAC Acquired by Delta Global Management LP

Key Points

• Delta Global Management LP bought a new stake in SBA Communications during the first quarter, acquiring 12,564 shares valued at about $2.16 million.
• Institutional ownership remains very high, with 97.35% of SBA Communications shares held by hedge funds and other institutional investors. Several other funds also recently increased or initiated positions in the company.
• SBA Communications recently paid a quarterly dividend of $1.25 per share, which works out to an annualized yield of about 2.9%. Analysts currently rate the stock a Moderate Buy with an average price target of $235.28.

Delta Global Management LP purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,564 shares of the technology company's stock, valued at approximately $2,162,000.

Other hedge funds also recently added to or reduced their stakes in the company. Aberdeen Group plc boosted its holdings in shares of SBA Communications by 12.4% in the 4th 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 in the last quarter. OFI Invest Asset Management acquired a new stake in SBA Communications during the 4th quarter worth $17,915,000. VCI Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter worth $1,786,000. M&T Bank Corp lifted its position in SBA Communications by 8,722.0% in the fourth quarter. M&T Bank Corp now owns 263,601 shares of the technology company's stock valued at $50,988,000 after acquiring an additional 260,613 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in SBA Communications by 5.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company's stock valued at $46,067,000 after acquiring an additional 14,317 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBAC stock opened at $173.57 on Friday. The company has a fifty day moving average price of $192.13 and a 200 day moving average price of $194.85. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $235.70. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.9%. 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 analysts have issued reports on SBAC shares. The Goldman Sachs Group started coverage on shares of SBA Communications in a research note on Friday, June 26th. They issued a "neutral" rating and a $205.00 price objective for the company. Scotiabank lifted their target price on SBA Communications from $223.00 to $230.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Royal Bank Of Canada reduced their target price on SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, July 10th. KeyCorp upped their target price on SBA Communications from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upgraded SBA Communications from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $220.00 to $210.00 in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and an average target price of $235.28.

SBA Communications Company Profile

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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