Callan Family Office LLC purchased a new position in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,310 shares of the technology company's stock, valued at approximately $267,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the third quarter worth $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications during the 3rd quarter worth about $35,000. Oakworth Capital Inc. raised its position in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after acquiring an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.
Analysts Set New Price Targets
SBAC has been the topic of several recent analyst reports. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.54.
Check Out Our Latest Stock Report on SBA Communications
Insider Activity at SBA Communications
In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 sale, the vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the 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 owns 4,998 shares of the company's stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
SBA Communications Stock Performance
SBAC traded up $3.67 during trading on Friday, hitting $218.23. The stock had a trading volume of 1,282,831 shares, compared to its average volume of 850,320. The firm has a market capitalization of $23.48 billion, a P/E ratio of 34.42, a PEG 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 company's 50-day moving average price is $206.87 and its 200 day moving average price is $220.44.
SBA Communications Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications's payout ratio is 63.98%.
About SBA Communications
(
Free Report)
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.
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