APG Asset Management N.V. Has $19.07 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

APG Asset Management N.V. raised its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,875 shares of the technology company's stock after acquiring an additional 33,524 shares during the period. APG Asset Management N.V. owned about 0.09% of SBA Communications worth $19,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter valued at about $27,000. Graney & King LLC bought a new position in SBA Communications in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. boosted its holdings in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares during the period. CKW Financial Group bought a new stake in shares of SBA Communications during the fourth quarter worth $56,000. Finally, Versant Capital Management Inc increased its position in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after acquiring an additional 53 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

NASDAQ SBAC traded up $2.04 during trading on Tuesday, reaching $226.77. 241,131 shares of the company's stock were exchanged, compared to its average volume of 890,802. The business has a 50 day moving average price of $215.66 and a 200-day moving average price of $217.21. The stock has a market capitalization of $24.40 billion, a P/E ratio of 35.77, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

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SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.96%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's payout ratio is 63.98%.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction that occurred 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 transaction, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

SBAC has been the subject of a number of research analyst reports. Morgan Stanley started coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price for the company. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 target price for the company. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $251.92.

SBA Communications 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.