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Mirae Asset Global Investments Co. Ltd. Purchases 1,450 Shares of SBA Communications Corporation (NASDAQ:SBAC)

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Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,463 shares of the technology company's stock after purchasing an additional 1,450 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in SBA Communications were worth $3,136,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in shares of SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after purchasing an additional 50 shares during the last quarter. DoubleLine ETF Adviser LP grew its holdings in shares of SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock worth $1,577,000 after purchasing an additional 57 shares during the last quarter. Oakworth Capital Inc. grew its holdings in shares of SBA Communications by 25.8% during the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock worth $64,000 after purchasing an additional 60 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of SBA Communications by 1.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock worth $1,011,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on SBAC shares. Bank of America started coverage on SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 target price on the stock. Citigroup increased their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Raymond James Financial restated a "strong-buy" rating and set a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research note on Tuesday, May 20th. Finally, Morgan Stanley began coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $253.43.

Check Out Our Latest Stock Analysis on SBA Communications

SBA Communications Stock Performance

NASDAQ:SBAC traded down $2.52 during mid-day trading on Friday, hitting $235.08. The company had a trading volume of 524,755 shares, compared to its average volume of 880,987. SBA Communications Corporation has a fifty-two week low of $190.91 and a fifty-two week high of $252.64. The business's fifty day moving average is $232.17 and its two-hundred day moving average is $218.36. The firm has a market cap of $25.26 billion, a P/E ratio of 32.25, a P/E/G ratio of 1.93 and a beta of 0.78.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.

Insider Activity 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 stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director owned 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

SBA Communications Profile

(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.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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