Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $46.07 Million Stock Position in SBA Communications Corporation $SBAC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,659 shares of the technology company’s stock after acquiring an additional 14,317 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SBA Communications were worth $46,067,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aberdeen Group plc boosted its stake in shares of SBA Communications by 12.4% in the 4th quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock valued at $39,160,000 after purchasing an additional 22,293 shares during the last quarter. OFI Invest Asset Management acquired a new position in SBA Communications in the fourth quarter valued at $17,915,000. Nordea Investment Management AB lifted its holdings in SBA Communications by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock valued at $241,234,000 after buying an additional 63,323 shares during the period. VCI Wealth Management LLC bought a new stake in SBA Communications during the fourth quarter valued at $1,786,000. Finally, M&T Bank Corp grew its holdings in SBA Communications by 8,722.0% during the 4th quarter. M&T Bank Corp now owns 263,601 shares of the technology company’s stock worth $50,988,000 after acquiring an additional 260,613 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 4.1%

SBAC stock traded up $7.55 during trading on Friday, reaching $190.03. 1,443,799 shares of the stock were exchanged, compared to its average volume of 1,034,810. The firm’s 50 day moving average is $198.45 and its 200 day moving average is $195.62. The firm has a market cap of $20.15 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.90 and a beta of 1.00. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $243.16.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBAC. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Barclays lifted their target price on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Scotiabank increased their price target on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Royal Bank Of Canada lowered their price objective on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Wells Fargo & Company increased their target price on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus price target of $235.83.

SBA Communications Company 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.