Curated Wealth Partners LLC Acquires Shares of 4,568 SBA Communications Co. (NASDAQ:SBAC)

Curated Wealth Partners LLC purchased a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,568 shares of the technology company's stock, valued at approximately $1,005,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in SBA Communications by 21.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,013 shares of the technology company's stock worth $2,645,000 after acquiring an additional 2,289 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of SBA Communications by 0.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 225,944 shares of the technology company's stock worth $46,047,000 after purchasing an additional 1,708 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of SBA Communications by 2.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,531 shares of the technology company's stock worth $2,554,000 after purchasing an additional 285 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in SBA Communications by 6.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,682 shares of the technology company's stock valued at $343,000 after purchasing an additional 109 shares during the period. Finally, Savant Capital LLC grew its holdings in SBA Communications by 37.9% in the 4th quarter. Savant Capital LLC now owns 10,724 shares of the technology company's stock valued at $2,186,000 after buying an additional 2,950 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 1.4%

NASDAQ:SBAC traded up $3.15 during trading hours on Thursday, reaching $227.90. The company had a trading volume of 497,593 shares, compared to its average volume of 887,369. The stock has a 50-day moving average of $228.17 and a two-hundred day moving average of $216.90. SBA Communications Co. has a one year low of $187.06 and a one year high of $252.64. The firm has a market capitalization of $24.49 billion, a PE ratio of 35.95, a PEG ratio of 0.74 and a beta of 0.78.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Insider Buying and Selling

In other news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now owns 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 accessible through this link. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBAC. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a report on Tuesday, May 20th. Raymond James reiterated a "strong-buy" rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications 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.