Dimensional Fund Advisors LP Purchases 7,078 Shares of SBA Communications Co. (NASDAQ:SBAC)

Dimensional Fund Advisors LP boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,493,020 shares of the technology company's stock after purchasing an additional 7,078 shares during the period. Dimensional Fund Advisors LP owned approximately 1.39% of SBA Communications worth $304,277,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Oak Thistle LLC boosted its stake in shares of SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after acquiring an additional 2,863 shares in the last quarter. Czech National Bank increased its stake in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after purchasing an additional 1,421 shares in the last quarter. First Hawaiian Bank raised its holdings in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after buying an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after buying an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake 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 valued at $141,205,000 after buying an additional 226,878 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Royal Bank of Canada restated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company lifted 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 began coverage on SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective for the company. Finally, Morgan Stanley started coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price on the stock. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.92.

SBA Communications Trading Down 0.5 %

Shares of SBA Communications stock traded down $1.06 during mid-day trading on Thursday, reaching $222.84. 883,212 shares of the stock were exchanged, compared to its average volume of 904,926. The company has a market cap of $23.98 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a 50-day simple moving average of $218.48 and a 200 day simple moving average of $216.90.

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 dividend of $1.11 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 1.99%. SBA Communications's dividend payout ratio is 63.98%.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company's stock.

SBA Communications Company 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.