Proficio Capital Partners LLC Acquires Shares of 63,178 SBA Communications Co. (NASDAQ:SBAC)

Proficio Capital Partners LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 63,178 shares of the technology company's stock, valued at approximately $12,876,000. Proficio Capital Partners LLC owned approximately 0.06% of SBA Communications as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SBAC. Victory Capital Management Inc. grew its holdings in shares of SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock valued at $292,714,000 after purchasing an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock valued at $213,353,000 after purchasing an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. KBC Group NV grew its holdings in shares of SBA Communications by 212.3% in the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company's stock valued at $83,562,000 after purchasing an additional 278,737 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock valued at $158,386,000 after purchasing an additional 273,237 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded up $3.61 during trading on Monday, hitting $221.51. 629,560 shares of the company were exchanged, compared to its average volume of 850,346. The stock has a market capitalization of $23.82 billion, a P/E ratio of 34.94, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm's 50 day moving average price is $204.17 and its 200-day moving average price is $220.47.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. 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. SBA Communications's payout ratio is presently 63.98%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBAC. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective for the company. StockNews.com downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Barclays decreased their price target on shares of SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Finally, Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $253.07.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company's stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction 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 directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

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.