SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC increased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 80.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,198 shares of the technology company's stock after acquiring an additional 2,766 shares during the quarter. AlphaQuest LLC's holdings in SBA Communications were worth $1,263,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock valued at $1,117,697,000 after buying an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. raised its stake in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after purchasing an additional 38,725 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock worth $213,353,000 after purchasing an additional 700,791 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were 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 owns 4,998 shares of the company's stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBAC. Barclays reduced their price objective on shares of SBA Communications from $254.00 to $240.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. BMO Capital Markets reissued a "market perform" rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com lowered SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and an average price target of $252.54.

SBA Communications Stock Performance

Shares of SBAC stock traded down $0.81 during trading hours on Thursday, reaching $214.56. The company had a trading volume of 939,294 shares, compared to its average volume of 848,604. The company has a market capitalization of $23.09 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock's fifty day simple moving average is $206.59 and its 200 day simple moving average is $220.49.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.07%. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's payout ratio is currently 63.98%.

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.