SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Increased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 281.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,927 shares of the technology company's stock after purchasing an additional 6,589 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in SBA Communications were worth $1,819,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MML Investors Services LLC lifted its position in SBA Communications by 5.3% during the third quarter. MML Investors Services LLC now owns 8,028 shares of the technology company's stock valued at $1,932,000 after buying an additional 407 shares in the last quarter. Barclays PLC lifted its holdings in shares of SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company's stock valued at $158,386,000 after acquiring an additional 273,237 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in SBA Communications during the 3rd quarter worth $266,000. Sanctuary Advisors LLC increased its holdings in SBA Communications by 19.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,672 shares of the technology company's stock valued at $1,252,000 after purchasing an additional 921 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in SBA Communications by 19.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company's stock valued at $379,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Down 1.3 %

SBA Communications stock traded down $3.02 during mid-day trading on Monday, hitting $226.05. 218,934 shares of the company's stock traded hands, compared to its average volume of 897,268. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The company has a market cap of $24.33 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The firm has a 50 day moving average price of $217.30 and a 200 day moving average price of $216.82.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is currently 63.98%.

Analyst Ratings Changes

SBAC has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Barclays boosted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. 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. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Finally, JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target on the stock. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

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.