SBA Communications Corporation (NASDAQ:SBAC) Shares Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in SBA Communications Corporation by 5.6% during Q1, acquiring an additional 2,979 shares to own a total of 55,784 shares valued at approximately $12.27 million.
• SBA Communications announced a quarterly dividend of $1.11 per share, providing an annualized dividend of $4.44, which yields 1.90% based on the stock price.
• The stock has seen a target price increase from various analysts, with UBS Group raising its price objective to $285.00, indicating a bullish outlook on the company's performance.

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,784 shares of the technology company's stock after buying an additional 2,979 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.05% of SBA Communications worth $12,273,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. NewEdge Advisors LLC raised its position in shares of SBA Communications by 23.9% in the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares during the period. CWA Asset Management Group LLC acquired a new stake in SBA Communications in the 1st quarter valued at $302,000. GAMMA Investing LLC increased its holdings in SBA Communications by 38.6% in the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after purchasing an additional 469 shares in the last quarter. Praxis Investment Management Inc. acquired a new stake in SBA Communications in the 1st quarter valued at $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in SBA Communications by 14.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock valued at $3,146,000 after purchasing an additional 1,769 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director owned 10,522 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

Shares of SBAC traded up $1.07 during mid-day trading on Tuesday, reaching $227.82. 199,536 shares of the company's stock traded hands, compared to its average volume of 851,294. The business's 50-day moving average price is $231.53 and its 200-day moving average price is $222.09. The stock has a market capitalization of $24.48 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SBAC shares. UBS Group raised their target price on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets raised their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. Raymond James Financial restated 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. Deutsche Bank Aktiengesellschaft downgraded SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research note on Tuesday, May 20th. Finally, Barclays raised their target price on SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $257.19.

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.