SBA Communications Corporation (NASDAQ:SBAC) Shares Purchased by Vanderbilt University

Vanderbilt University raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 76.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,409 shares of the technology company's stock after purchasing an additional 3,201 shares during the period. Vanderbilt University's holdings in SBA Communications were worth $1,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of SBA Communications by 23.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after acquiring an additional 246 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after acquiring an additional 38,725 shares in the last quarter. GAMMA Investing LLC increased its position in shares of SBA Communications by 30,393.6% in the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after acquiring an additional 369,282 shares in the last quarter. NEOS Investment Management LLC increased its position in shares of SBA Communications by 29.3% in the fourth quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock worth $1,118,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Performance

SBA Communications stock opened at $228.32 on Friday. The firm's 50-day moving average is $230.23 and its 200-day moving average is $216.99. SBA Communications Corporation has a 1 year low of $187.06 and a 1 year high of $252.64. The company has a market cap of $24.53 billion, a P/E ratio of 31.32, a PEG ratio of 1.89 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 $1.11 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.94%. SBA Communications's payout ratio is currently 60.91%.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the sale, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. BMO Capital Markets upped their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada restated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Citigroup increased their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Seven investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $253.43.

About SBA Communications

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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