CenterBook Partners LP Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

CenterBook Partners LP boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 22.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,544 shares of the technology company's stock after buying an additional 2,091 shares during the period. CenterBook Partners LP's holdings in SBA Communications were worth $2,353,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SBAC. Oak Thistle LLC boosted its position in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank boosted its position in SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after purchasing an additional 1,421 shares during the last quarter. First Hawaiian Bank grew its stake in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock valued at $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after purchasing an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in SBA Communications by 49.3% during the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock worth $141,205,000 after buying an additional 226,878 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company's stock.

SBA Communications Trading Up 1.2 %

NASDAQ:SBAC traded up $2.62 during trading hours on Tuesday, hitting $227.35. 261,282 shares of the company were exchanged, compared to its average volume of 890,858. The company has a fifty day simple moving average of $215.66 and a 200 day simple moving average of $217.21. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, April 10th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $251.92.

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.