J. Safra Sarasin Holding AG Takes Position in SBA Communications Co. (NASDAQ:SBAC)

J. Safra Sarasin Holding AG purchased a new stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,027 shares of the technology company's stock, valued at approximately $617,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oak Thistle LLC grew its position in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after purchasing an additional 2,863 shares in the last quarter. Czech National Bank grew its stake in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after buying an additional 1,421 shares during the last quarter. First Hawaiian Bank increased its stake in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after purchasing an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in SBA Communications by 3.0% during the 4th 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 boosted its holdings in shares of SBA Communications by 49.3% in the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock valued at $141,205,000 after purchasing an additional 226,878 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SBAC. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. StockNews.com lowered SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, Barclays lifted their price objective on SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.

SBA Communications Stock Performance

NASDAQ SBAC traded down $0.75 during trading hours on Friday, reaching $222.09. The company's stock had a trading volume of 855,695 shares, compared to its average volume of 906,240. The stock has a market cap of $23.90 billion, a PE ratio of 35.03, a PEG ratio of 0.74 and a beta of 0.83. The company's 50-day moving average is $219.14 and its two-hundred day moving average is $216.55. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. This is an increase from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, March 13th. SBA Communications's dividend payout ratio is currently 63.98%.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was 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 directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is currently owned by company insiders.

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.