Fieldview Capital Management LLC Purchases Shares of 3,365 SBA Communications Corporation $SBAC

Fieldview Capital Management LLC purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,365 shares of the technology company’s stock, valued at approximately $651,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after buying an additional 403,285 shares in the last quarter. Dodge & Cox grew its holdings in SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after buying an additional 2,328,837 shares in the last quarter. State Street Corp grew its holdings in SBA Communications by 3.3% during the 4th quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock valued at $950,054,000 after buying an additional 158,738 shares in the last quarter. Geode Capital Management LLC grew its holdings in SBA Communications by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after buying an additional 16,153 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in SBA Communications by 9.7% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock valued at $393,615,000 after buying an additional 179,591 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 4.4%

Shares of NASDAQ SBAC opened at $195.82 on Tuesday. The business has a fifty day simple moving average of $210.48 and a two-hundred day simple moving average of $196.46. The firm has a market cap of $20.77 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. 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 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 of this dividend is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. SBA Communications’s payout ratio is 52.63%.

Wall Street Analyst Weigh In

SBAC has been the subject of several research analyst reports. Morgan Stanley raised their price target on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Truist Financial restated a “buy” rating and set a $248.00 price target (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Scotiabank raised their price objective on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, KeyCorp raised their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.22.

About SBA Communications

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.