Cibc World Market Inc. Raises Stock Position in SBA Communications Corporation $SBAC

Cibc World Market Inc. boosted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 115.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,468 shares of the technology company’s stock after buying an additional 33,412 shares during the quarter. Cibc World Market Inc.’s holdings in SBA Communications were worth $12,083,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Fortune Financial Advisors LLC raised its stake in SBA Communications by 2.4% during the third quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock worth $432,000 after purchasing an additional 53 shares during the period. Prestige Wealth Management Group LLC raised its stake in SBA Communications by 3.6% during the third quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company’s stock worth $332,000 after purchasing an additional 60 shares during the period. Choreo LLC raised its stake in SBA Communications by 1.1% during the third quarter. Choreo LLC now owns 6,047 shares of the technology company’s stock worth $1,169,000 after purchasing an additional 63 shares during the period. Norinchukin Bank The raised its stake in SBA Communications by 1.1% during the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after purchasing an additional 68 shares during the period. Finally, Larson Financial Group LLC raised its stake in SBA Communications by 47.6% during the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock worth $48,000 after purchasing an additional 80 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC opened at $208.02 on Friday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The stock has a market cap of $22.06 billion, a PE ratio of 21.90, a P/E/G ratio of 2.08 and a beta of 0.99. The firm has a 50-day simple moving average of $207.16 and a two-hundred day simple moving average of $196.13.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank lifted their target price on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Morgan Stanley lifted their price target on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Royal Bank Of Canada lifted their price target on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Barclays lifted their price target on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Sanford C. Bernstein began coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $237.22.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.