SBA Communications Corporation (NASDAQ:SBAC) Stock Holdings Decreased by Leo Wealth LLC

Leo Wealth LLC lessened its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,372 shares of the technology company's stock after selling 5,068 shares during the quarter. SBA Communications accounts for about 1.2% of Leo Wealth LLC's portfolio, making the stock its 17th largest holding. Leo Wealth LLC's holdings in SBA Communications were worth $8,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Dodge & Cox lifted its stake in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after buying an additional 5,722,740 shares in the last quarter. Geode Capital Management LLC lifted its stake in SBA Communications by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock valued at $586,827,000 after buying an additional 71,023 shares in the last quarter. Deutsche Bank AG lifted its stake in SBA Communications by 5.9% in the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock valued at $491,549,000 after buying an additional 134,624 shares in the last quarter. Cohen & Steers Inc. lifted its stake in SBA Communications by 29.8% in the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after buying an additional 432,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in SBA Communications by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,020 shares of the technology company's stock valued at $304,277,000 after buying an additional 7,078 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction on 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 transaction, the director owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SBAC shares. Barclays raised their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday. They set a "sector perform" rating and a $252.00 price target on the stock. UBS Group lifted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Citigroup lifted their target price on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.31.

SBA Communications Trading Down 0.5%

Shares of SBAC traded down $1.14 during mid-day trading on Thursday, reaching $232.76. The company had a trading volume of 101,482 shares, compared to its average volume of 870,464. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.90 and a beta of 0.78. The firm has a fifty day simple moving average of $231.11 and a 200-day simple moving average of $219.90. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio is presently 60.91%.

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.