SBA Communications Co. (NASDAQ:SBAC) Position Increased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 37.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the technology company's stock after buying an additional 1,400 shares during the period. Intact Investment Management Inc.'s holdings in SBA Communications were worth $1,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in SBA Communications during the 3rd quarter worth $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter worth $27,000. Oakworth Capital Inc. increased its position in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group bought a new stake in shares of SBA Communications in the 4th quarter worth about $56,000. Finally, Versant Capital Management Inc increased its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 1.5 %

NASDAQ SBAC traded down $3.36 on Wednesday, hitting $219.79. The stock had a trading volume of 794,452 shares, compared to its average volume of 847,484. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 0.74 and a beta of 0.74. The company's 50-day moving average is $208.18 and its two-hundred day moving average is $220.21.

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SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be 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 is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.02%. SBA Communications's dividend payout ratio is 63.98%.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research analyst reports. Barclays dropped their target price on shares of SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. BMO Capital Markets reissued a "market perform" rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Finally, Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $252.54.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.