Lasalle Investment Management Securities LLC Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Lasalle Investment Management Securities LLC lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 36.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,924 shares of the technology company's stock after purchasing an additional 11,826 shares during the quarter. Lasalle Investment Management Securities LLC's holdings in SBA Communications were worth $8,952,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Exchange Traded Concepts LLC lifted its holdings in SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc increased its position in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after acquiring an additional 53 shares during the period. Auxano Advisors LLC raised its stake in shares of SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after acquiring an additional 54 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in SBA Communications by 5.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after purchasing an additional 61 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in SBA Communications by 1.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock worth $1,011,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Activity

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 transaction of $495,213.62. Following the transaction, the vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

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

SBA Communications Stock Down 0.5 %

NASDAQ:SBAC 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 904,543. The stock has a market capitalization of $23.98 billion, a P/E ratio of 35.15, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 dividend yield of 1.99%. SBA Communications's dividend payout ratio (DPR) is 63.98%.

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.