St. Louis Trust Co Purchases Shares of 10,720 SBA Communications Corporation (NASDAQ:SBAC)

St. Louis Trust Co bought a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,720 shares of the technology company's stock, valued at approximately $2,359,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Farther Finance Advisors LLC increased its position in shares of SBA Communications by 22.0% during the 1st 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 increased its position in shares of SBA Communications by 2.3% during the 1st 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 increased its position in shares of SBA Communications by 0.7% during the 4th 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. increased its position in shares of SBA Communications by 25.8% during the 1st 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, Clear Creek Financial Management LLC increased its position in shares of SBA Communications by 6.0% during the 1st quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock worth $242,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBAC shares. BMO Capital Markets boosted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. UBS Group lifted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Citigroup lifted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America started coverage on SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 target price for the company. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.31.

SBA Communications Trading Up 0.4%

SBAC traded up $1.04 on Friday, reaching $233.90. The stock had a trading volume of 395,556 shares, compared to its average volume of 871,481. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64. The firm has a 50-day moving average of $230.92 and a 200-day moving average of $220.43. The company has a market capitalization of $25.13 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.90%. SBA Communications's payout ratio is 60.91%.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director directly owned 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by insiders.

SBA Communications Company 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.