Sterling Capital Management LLC lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,068 shares of the technology company's stock after acquiring an additional 2,189 shares during the quarter. Sterling Capital Management LLC's holdings in SBA Communications were worth $3,275,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter worth approximately $27,000. Graney & King LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at $29,000. Oakworth Capital Inc. boosted its holdings in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after buying an additional 144 shares during the period. CKW Financial Group purchased a new stake in SBA Communications in the 4th quarter worth $56,000. Finally, Versant Capital Management Inc raised its holdings in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after acquiring an additional 53 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.
SBA Communications Price Performance
Shares of SBA Communications stock traded up $0.14 on Tuesday, reaching $224.87. The company had a trading volume of 747,400 shares, compared to its average volume of 892,650. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 0.74 and a beta of 0.83. The firm's 50-day moving average price is $216.05 and its two-hundred day moving average price is $217.26. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.
SBA Communications Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. SBA Communications's payout ratio is 63.98%.
Insider Activity
In related news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on SBAC. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. BMO Capital Markets reiterated a "market perform" rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Barclays increased their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and an average price target of $251.92.
Check Out Our Latest Report on SBAC
SBA Communications Company Profile
(
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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