Cerity Partners LLC Raises Holdings in SBA Communications Co. (NASDAQ:SBAC)

Cerity Partners LLC grew its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 81.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,004 shares of the technology company's stock after buying an additional 14,407 shares during the quarter. Cerity Partners LLC's holdings in SBA Communications were worth $6,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBAC. JPMorgan Chase & Co. increased its holdings in SBA Communications by 16.6% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its holdings in SBA Communications by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock valued at $586,827,000 after buying an additional 71,023 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in SBA Communications by 8.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock worth $379,290,000 after buying an additional 142,054 shares during the period. Victory Capital Management Inc. grew its holdings in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares during the last quarter. Finally, Norges Bank acquired a new position in SBA Communications in the 4th quarter valued at approximately $268,287,000. Institutional investors own 97.35% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently weighed in on SBAC. Morgan Stanley assumed coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective on the stock. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Wells Fargo & Company upped 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. BMO Capital Markets restated a "market perform" rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $251.92.

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 on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.

SBA Communications Stock Up 0.1 %

SBAC stock traded up $0.14 during midday trading on Tuesday, reaching $224.87. 747,400 shares of the company's stock traded hands, compared to its average volume of 892,750. The firm's fifty day moving average price is $215.66 and its 200-day moving average price is $217.21. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company has a market cap of $24.20 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. 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. This represents a $4.44 annualized dividend and a yield of 1.97%. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

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.