Moran Wealth Management LLC Has $14.05 Million Stock Position in SBA Communications Corporation $SBAC

Moran Wealth Management LLC raised its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,611 shares of the technology company’s stock after purchasing an additional 5,325 shares during the period. Moran Wealth Management LLC’s holdings in SBA Communications were worth $14,046,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC grew its stake in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. DV Equities LLC bought a new position in SBA Communications during the fourth quarter valued at approximately $29,000. Fulcrum Asset Management LLP bought a new position in SBA Communications during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new stake in SBA Communications in the fourth quarter valued at approximately $39,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBAC stock opened at $184.56 on Friday. The stock’s 50 day simple moving average is $201.84 and its 200 day simple moving average is $195.88. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $243.16. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.84 and a beta of 1.00.

SBA Communications Dividend Announcement

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

Analyst Ratings Changes

SBAC has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price for the company. Scotiabank raised their price target on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. KeyCorp upped their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. 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 report on Tuesday, April 7th. One investment 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 stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target 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.