Adage Capital Partners GP L.L.C. Buys 51,100 Shares of SBA Communications Co. (NASDAQ:SBAC)

Adage Capital Partners GP L.L.C. boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,400 shares of the technology company's stock after purchasing an additional 51,100 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.14% of SBA Communications worth $31,059,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBAC. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter worth $27,000. Graney & King LLC acquired a new stake in SBA Communications during the 4th quarter worth approximately $29,000. Oakworth Capital Inc. grew its position in 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 buying an additional 144 shares in the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications during the 4th quarter worth approximately $56,000. Finally, Versant Capital Management Inc grew its position in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is currently owned by company insiders.

SBA Communications Price Performance

NASDAQ:SBAC traded up $15.22 on Tuesday, reaching $238.50. The stock had a trading volume of 1,702,997 shares, compared to its average volume of 909,320. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 0.74 and a beta of 0.83. The firm's fifty day moving average is $219.45 and its two-hundred day moving average is $216.36. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.86%. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SBAC shares. JMP Securities lifted their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup lifted their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday. Barclays boosted their price objective on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Morgan Stanley assumed coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price for the company. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and a consensus price target of $252.38.

About SBA Communications

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.