Sanctuary Advisors LLC Buys 1,799 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sanctuary Advisors LLC lifted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 31.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,471 shares of the technology company's stock after purchasing an additional 1,799 shares during the period. Sanctuary Advisors LLC's holdings in SBA Communications were worth $1,488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SBAC. State Street Corp lifted its holdings in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock worth $1,117,697,000 after buying an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $1,024,049,000 after buying an additional 605,872 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of SBA Communications by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company's stock worth $305,637,000 after purchasing an additional 62,555 shares during the last quarter. Victory Capital Management Inc. boosted its position in SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock valued at $292,714,000 after buying an additional 1,174,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock worth $213,353,000 after purchasing an additional 700,791 shares during the period. Institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on SBAC shares. Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. BMO Capital Markets reissued a "market perform" rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company cut their price target on SBA Communications from $230.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.00.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, 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 sale, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 33,588 shares of the company's stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

SBA Communications Trading Up 3.0 %

NASDAQ SBAC traded up $6.33 on Tuesday, hitting $219.17. 1,779,003 shares of the stock traded hands, compared to its average volume of 792,830. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock has a 50-day moving average of $202.63 and a 200 day moving average of $220.38. The company has a market capitalization of $23.57 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is presently 61.83%.

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.