Delta Global Management LP Buys Shares of 12,564 SBA Communications Corporation $SBAC

Delta Global Management LP bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 12,564 shares of the technology company’s stock, valued at approximately $2,162,000.

Several other large investors have also modified their holdings of SBAC. J. Safra Sarasin Holding AG lifted its holdings in shares of SBA Communications by 4.0% during the first quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock worth $275,000 after purchasing an additional 62 shares during the period. Norinchukin Bank The increased its stake in SBA Communications by 1.1% in the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares during the period. Fortune Financial Advisors LLC raised its position in SBA Communications by 3.3% during the 4th quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after buying an additional 73 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of SBA Communications by 47.6% in the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock worth $48,000 after acquiring an additional 80 shares during the period. Finally, Quarry LP lifted its stake in shares of SBA Communications by 20.3% in the 4th quarter. Quarry LP now owns 475 shares of the technology company’s stock worth $92,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $173.57 on Friday. The firm has a market capitalization of $18.41 billion, a P/E ratio of 18.27, a PEG ratio of 1.73 and a beta of 1.00. SBA Communications Corporation has a one year low of $162.41 and a one year high of $235.70. The company’s fifty day moving average is $192.13 and its two-hundred day moving average is $194.85.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.9%. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group started coverage on shares of SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective for the company. KeyCorp lifted their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Barclays boosted their target price on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Scotiabank increased their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $235.28.

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.