Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,518 shares of the technology company's stock after buying an additional 3,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in SBA Communications were worth $4,793,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in SBA Communications in the 3rd quarter worth $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the 4th quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications in the 3rd quarter worth $35,000. Farther Finance Advisors LLC increased its stake in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after buying an additional 53 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings 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 valued at $47,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SBAC. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Barclays dropped their price objective on shares of SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, nine 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 an average target price of $253.07.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Down 0.1 %

SBA Communications stock traded down $0.30 during midday trading on Friday, reaching $217.90. The stock had a trading volume of 1,093,981 shares, compared to its average volume of 853,182. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The company has a fifty day moving average of $203.81 and a 200 day moving average of $220.39.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. 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 2.04%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications's dividend payout ratio is 63.98%.

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.