Prudential PLC increased its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,420 shares of the technology company's stock after buying an additional 2,382 shares during the quarter. Prudential PLC owned about 0.06% of SBA Communications worth $12,314,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Oak Thistle LLC grew its stake in shares of SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after purchasing an additional 2,863 shares during the last quarter. Czech National Bank lifted its stake in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after acquiring an additional 1,421 shares during the last quarter. First Hawaiian Bank boosted its stake in shares of SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after acquiring an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $266,675,000 after acquiring an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock valued at $141,205,000 after acquiring an additional 226,878 shares during the last quarter. Institutional investors own 97.35% of the company's stock.
Insider Buying and Selling at SBA Communications
In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction dated 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 transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company's stock.
SBA Communications Price Performance
Shares of NASDAQ SBAC traded down $2.46 during mid-day trading on Thursday, hitting $209.68. The company's stock had a trading volume of 568,839 shares, compared to its average volume of 906,680. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The company's fifty day simple moving average is $214.51 and its 200-day simple moving average is $217.79. The stock has a market cap of $22.56 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.
SBA Communications Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.12%. 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 payout ratio is currently 63.98%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 target price on the stock. BMO Capital Markets restated a "market perform" rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday. Five research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $251.92.
Get Our Latest Analysis on SBA Communications
About SBA Communications
(
Free Report)
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.
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