Banco Santander S.A. Takes $263,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Banco Santander S.A. acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,290 shares of the technology company's stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Victory Capital Management Inc. raised its position in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock valued at $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock valued at $213,353,000 after acquiring an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. raised its position in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. KBC Group NV raised its position in SBA Communications by 212.3% during the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company's stock valued at $83,562,000 after acquiring an additional 278,737 shares in the last quarter. Finally, Barclays PLC raised its position in SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock valued at $158,386,000 after acquiring an additional 273,237 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

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Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction on Friday, March 7th. The stock was 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 of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Up 1.7 %

SBA Communications stock traded up $3.67 during mid-day trading on Friday, hitting $218.23. 1,282,831 shares of the company were exchanged, compared to its average volume of 850,320. The company has a market capitalization of $23.48 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The business has a fifty day moving average of $206.87 and a 200 day moving average of $220.44. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays lowered their price target on SBA Communications from $254.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company increased their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective on the stock. Finally, StockNews.com downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $252.54.

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.