Ritholtz Wealth Management bought a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,956 shares of the technology company's stock, valued at approximately $1,970,000.
Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of SBA Communications by 75.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company's stock valued at $3,215,000 after purchasing an additional 6,272 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in SBA Communications by 62.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 14,806 shares of the technology company's stock valued at $3,257,000 after buying an additional 5,702 shares in the last quarter. Everhart Financial Group Inc. purchased a new stake in SBA Communications during the first quarter worth approximately $203,000. NorthCrest Asset Manangement LLC acquired a new stake in shares of SBA Communications in the first quarter worth $328,000. Finally, Tobam raised its stake in shares of SBA Communications by 331.0% in the 1st quarter. Tobam now owns 2,659 shares of the technology company's stock valued at $585,000 after acquiring an additional 2,042 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.
SBA Communications Stock Up 0.6%
SBAC stock traded up $1.29 during mid-day trading on Friday, reaching $229.61. The company had a trading volume of 404,562 shares, compared to its average volume of 886,272. SBA Communications Corporation has a one year low of $187.06 and a one year high of $252.64. The stock has a market capitalization of $24.67 billion, a P/E ratio of 31.31, a P/E/G ratio of 1.89 and a beta of 0.78. The stock's 50-day simple moving average is $230.23 and its two-hundred day simple moving average is $216.99.
SBA Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were given a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.93%. SBA Communications's dividend payout ratio is presently 60.91%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on SBAC. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Citigroup upped their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Barclays boosted their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Finally, Bank of America started coverage on shares of SBA Communications in a research report on Monday, May 19th. They issued a "buy" rating and a $260.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $253.43.
View Our Latest Stock Analysis on SBA Communications
Insider Buying and Selling at SBA Communications
In other news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by company insiders.
About SBA Communications
(
Free Report)
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.
Further Reading
Before you consider SBA Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SBA Communications wasn't on the list.
While SBA Communications currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for July 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
