Lbp Am Sa Increases Stock Position in SBA Communications Co. (NASDAQ:SBAC)

LBP AM SA lifted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,032 shares of the technology company's stock after purchasing an additional 15,884 shares during the quarter. LBP AM SA owned approximately 0.09% of SBA Communications worth $18,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Oak Thistle LLC boosted its holdings in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after acquiring an additional 2,863 shares during the period. Czech National Bank raised its position in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after purchasing an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in SBA Communications by 14,529.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock worth $60,495,000 after purchasing an additional 249,610 shares during the period. First Hawaiian Bank grew its position in 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 purchasing an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in SBA Communications by 135.5% in the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company's stock valued at $100,351,000 after purchasing an additional 241,916 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada restated an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company increased their price target on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, JMP Securities began coverage on SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications presently has an average rating of "Moderate Buy" and a consensus price target of $252.54.

SBA Communications Stock Up 1.0 %

Shares of SBAC traded up $2.25 during mid-day trading on Tuesday, reaching $223.15. 750,938 shares of the company's stock were exchanged, compared to its average volume of 847,670. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a 50-day simple moving average of $207.64 and a two-hundred day simple moving average of $220.23. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications's payout ratio is 63.98%.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the business's 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 completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

SBA Communications 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.