FourThought Financial Partners LLC Buys Shares of 1,840 SBA Communications Co. (NASDAQ:SBAC)

FourThought Financial Partners LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,840 shares of the technology company's stock, valued at approximately $375,000.

A number of other large investors have also modified their holdings of SBAC. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth about $26,000. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications during the third quarter worth about $35,000. Oakworth Capital Inc. lifted its holdings in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 0.1 %

Shares of SBA Communications stock traded down $0.30 on Friday, reaching $217.90. The company's stock had a trading volume of 1,093,981 shares, compared to its average volume of 853,182. The company has a market capitalization of $23.43 billion, a P/E ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a 50-day moving average price of $203.81 and a 200-day moving average price of $220.39.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.04%. SBA Communications's payout ratio is 63.98%.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company's stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on SBAC shares. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 target price for the company. StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $253.07.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.