KBC Group NV Sells 6,655 Shares of SBA Communications Corporation $SBAC

Key Points

• KBC Group NV cut its SBA Communications stake by 13.4% in the first quarter, selling 6,655 shares and leaving it with 43,127 shares worth about $7.42 million.
• Institutional ownership remains high at 97.35%, and several other funds made small additions to their SBAC holdings during recent quarters.
• Analysts are mixed but mostly positive: SBAC currently has a consensus rating of Moderate Buy with an average price target of $235.28, while the stock recently traded at $178.02, below its 50-day and 200-day averages.

KBC Group NV decreased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 13.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,127 shares of the technology company's stock after selling 6,655 shares during the period. KBC Group NV's holdings in SBA Communications were worth $7,422,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBAC. J. Safra Sarasin Holding AG boosted its holdings in shares of SBA Communications by 4.0% in the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company's stock worth $275,000 after purchasing an additional 62 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of SBA Communications by 1.1% during the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company's stock valued at $1,167,000 after buying an additional 68 shares in the last quarter. Fortune Financial Advisors LLC raised its holdings in shares of SBA Communications by 3.3% during the 4th quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company's stock valued at $447,000 after buying an additional 73 shares in the last quarter. Larson Financial Group LLC lifted its position in SBA Communications by 47.6% in the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company's stock worth $48,000 after buying an additional 80 shares during the last quarter. Finally, Quarry LP boosted its stake in SBA Communications by 20.3% in the fourth quarter. Quarry LP now owns 475 shares of the technology company's stock worth $92,000 after buying an additional 80 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $178.02 on Thursday. The business has a 50-day moving average of $193.18 and a 200 day moving average of $195.12. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The stock has a market capitalization of $18.88 billion, a PE ratio of 18.74, a P/E/G ratio of 1.77 and a beta of 1.00.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications's dividend payout ratio is 52.63%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBAC shares. Wells Fargo & Company upgraded shares of SBA Communications from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SBA Communications in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Friday, June 26th. They set a "neutral" rating and a $205.00 target price on the stock. Finally, Scotiabank lifted their target price on shares of SBA Communications from $223.00 to $230.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus price target of $235.28.

SBA Communications 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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