Wealthfront Advisers LLC Decreases Stock Holdings in SBA Communications Corporation $SBAC

Wealthfront Advisers LLC lessened its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 9.4% during the first quarter, HoldingsChannel.com reports. The fund owned 39,205 shares of the technology company’s stock after selling 4,077 shares during the quarter. Wealthfront Advisers LLC’s holdings in SBA Communications were worth $6,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Elevation Wealth Partners LLC lifted its position in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares during the period. DV Equities LLC bought a new stake in SBA Communications in the 4th quarter worth approximately $29,000. Fulcrum Asset Management LLP bought a new stake in SBA Communications in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter valued at $39,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 0.4%

SBAC opened at $185.69 on Friday. The firm’s 50 day simple moving average is $195.21 and its two-hundred day simple moving average is $195.43. The company has a market capitalization of $19.69 billion, a PE ratio of 19.55, a PEG ratio of 1.85 and a beta of 1.00. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16.

SBA Communications Dividend Announcement

The business 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 yield of 2.7%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of research reports. KeyCorp raised their price target on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada reduced their price objective on SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $220.00 to $210.00 in a report on Friday. The Goldman Sachs Group started coverage on SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price on the stock. 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 research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.28.

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.