SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Boothbay Fund Management LLC

Boothbay Fund Management LLC lifted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,662 shares of the technology company's stock after acquiring an additional 18,234 shares during the quarter. SBA Communications accounts for about 0.8% of Boothbay Fund Management LLC's investment portfolio, making the stock its 7th largest holding. Boothbay Fund Management LLC owned 0.15% of SBA Communications worth $32,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBAC. Barclays PLC grew its stake in shares of SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after acquiring an additional 273,237 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in SBA Communications by 19.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company's stock worth $379,000 after purchasing an additional 258 shares during the period. Tidal Investments LLC raised its holdings in SBA Communications by 8.8% during the third quarter. Tidal Investments LLC now owns 2,868 shares of the technology company's stock valued at $690,000 after acquiring an additional 233 shares during the period. Synovus Financial Corp increased its holdings in shares of SBA Communications by 13.0% in the third quarter. Synovus Financial Corp now owns 13,222 shares of the technology company's stock worth $3,183,000 after purchasing an additional 1,522 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

SBAC traded up $15.22 on Tuesday, hitting $238.50. The company had a trading volume of 1,702,997 shares, compared to its average volume of 909,836. The stock has a fifty day moving average price of $219.45 and a 200-day moving average price of $216.36. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a market capitalization 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.

SBA Communications Announces Dividend

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

Wall Street Analyst Weigh In

SBAC has been the subject of several recent research reports. BMO Capital Markets lifted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday. Citigroup lifted their price target on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. JMP Securities boosted their target price on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday. Finally, Royal Bank of Canada restated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $252.38.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated 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 in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by insiders.

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.