Treasurer of the State of North Carolina Purchases 2,940 Shares of SBA Communications Co. (NASDAQ:SBAC)

Treasurer of the State of North Carolina boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 51,174 shares of the technology company's stock after buying an additional 2,940 shares during the period. Treasurer of the State of North Carolina's holdings in SBA Communications were worth $10,429,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Evermay Wealth Management LLC acquired a new stake in SBA Communications in the 4th quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. lifted its position in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in SBA Communications during the fourth quarter worth $56,000. Finally, Sherman Asset Management Inc. bought a new position in SBA Communications in the fourth quarter valued at $73,000. Institutional investors own 97.35% of the company's stock.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

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SBA Communications Stock Up 0.4 %

Shares of SBA Communications stock traded up $0.80 on Wednesday, hitting $225.67. The stock had a trading volume of 1,622,475 shares, compared to its average volume of 895,860. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The business's 50 day moving average is $216.05 and its two-hundred day moving average is $217.26. SBA Communications Co. has a twelve month low of $183.64 and a twelve month 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 annualized dividend and a yield of 1.97%. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

Analyst Ratings Changes

SBAC has been the subject of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Barclays boosted their price target on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $251.92.

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.