First Hawaiian Bank Has $2.52 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

First Hawaiian Bank boosted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 91.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,377 shares of the technology company's stock after purchasing an additional 5,897 shares during the quarter. First Hawaiian Bank's holdings in SBA Communications were worth $2,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in SBA Communications by 49.3% in the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock valued at $141,205,000 after buying an additional 226,878 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of SBA Communications by 214.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,200 shares of the technology company's stock valued at $448,000 after acquiring an additional 1,500 shares in the last quarter. GAMMA Investing LLC grew its position in shares of SBA Communications by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 1,215 shares of the technology company's stock worth $248,000 after buying an additional 226 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after buying an additional 53 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of SBA Communications by 16.6% in the 3rd 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. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

SBAC has been the subject of several recent analyst reports. KeyCorp boosted their target price on SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group increased their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

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 dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following 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 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 Trading Up 2.0 %

SBAC stock traded up $3.82 during midday trading on Thursday, reaching $199.71. The company had a trading volume of 1,131,071 shares, compared to its average volume of 748,534. The company has a 50 day moving average of $214.49 and a two-hundred day moving average of $221.02. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company has a market capitalization of $21.47 billion, a P/E ratio of 31.50, a PEG ratio of 0.72 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.34 EPS. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.96%. SBA Communications's dividend payout ratio (DPR) is currently 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.