Louisiana State Employees Retirement System Invests $929,000 in SBA Communications Corporation $SBAC

Louisiana State Employees Retirement System acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,400 shares of the technology company’s stock, valued at approximately $929,000.

A number of other institutional investors have also modified their holdings of the company. Norinchukin Bank The increased its position in SBA Communications by 1.1% during the 3rd 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 in the last quarter. Fortune Financial Advisors LLC lifted its position in SBA Communications by 3.3% during the fourth quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock valued at $447,000 after buying an additional 73 shares in the last quarter. Larson Financial Group LLC grew 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 buying an additional 80 shares during the period. Quarry LP grew its stake in SBA Communications by 20.3% during the fourth quarter. Quarry LP now owns 475 shares of the technology company’s stock worth $92,000 after buying an additional 80 shares during the period. Finally, Vanderbilt University increased its position in shares of SBA Communications by 0.7% in the fourth quarter. Vanderbilt University now owns 11,843 shares of the technology company’s stock worth $2,291,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $184.56 on Monday. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00. The company has a 50 day moving average of $201.84 and a two-hundred day moving average of $195.90. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of research reports. The Goldman Sachs Group started coverage on shares of SBA Communications in a research note on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price on the stock. Wells Fargo & Company upped their price target on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Barclays increased their price target on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Truist Financial reissued a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.39.

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.