iA Global Asset Management Inc. increased its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,828 shares of the technology company's stock after purchasing an additional 1,174 shares during the quarter. iA Global Asset Management Inc.'s holdings in SBA Communications were worth $1,799,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in SBA Communications during the fourth quarter valued at approximately $205,000. Signaturefd LLC increased its position in SBA Communications by 16.4% in the fourth quarter. Signaturefd LLC now owns 894 shares of the technology company's stock worth $182,000 after buying an additional 126 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of SBA Communications by 12.3% during the 4th quarter. Cibc World Markets Corp now owns 48,249 shares of the technology company's stock valued at $9,833,000 after buying an additional 5,293 shares in the last quarter. Gitterman Wealth Management LLC increased its holdings in SBA Communications by 14.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,310 shares of the technology company's stock worth $267,000 after acquiring an additional 162 shares in the last quarter. Finally, Ninepoint Partners LP raised its stake in SBA Communications by 21.0% during the 4th quarter. Ninepoint Partners LP now owns 6,508 shares of the technology company's stock worth $1,326,000 after acquiring an additional 1,128 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently commented on SBAC shares. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Finally, 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. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.85.
Read Our Latest Stock Report on SBAC
Insider Buying and Selling
In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction 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 transaction, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.
SBA Communications Stock Down 1.6 %
Shares of SBA Communications stock traded down $3.52 during trading on Tuesday, reaching $215.17. The company's stock had a trading volume of 161,653 shares, compared to its average volume of 848,386. The company has a 50-day simple moving average of $210.06 and a two-hundred day simple moving average of $219.90. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a market cap of $23.16 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 0.74 and a beta of 0.74.
SBA Communications Increases Dividend
The business 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 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, March 13th. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.
SBA Communications Company Profile
(
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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