Motley Fool Asset Management LLC Buys 4,524 Shares of SBA Communications Co. (NASDAQ:SBAC)

Motley Fool Asset Management LLC raised its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,964 shares of the technology company's stock after purchasing an additional 4,524 shares during the quarter. Motley Fool Asset Management LLC owned 0.06% of SBA Communications worth $12,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBAC. Exchange Traded Concepts LLC lifted its stake in SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after purchasing an additional 50 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after acquiring an additional 53 shares during the period. Auxano Advisors LLC increased its holdings in SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after acquiring an additional 54 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after acquiring an additional 61 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in SBA Communications by 1.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after purchasing an additional 64 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company's stock.

SBA Communications Stock Performance

SBA Communications stock traded up $1.51 during mid-day trading on Tuesday, hitting $215.94. 569,329 shares of the company traded hands, compared to its average volume of 880,312. The stock has a fifty day moving average price of $213.61 and a 200-day moving average price of $218.31. The stock has a market cap of $23.24 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $1.11 dividend. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's dividend payout ratio is presently 63.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBAC. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 target price on the stock. Barclays lifted their price target on SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $251.92.

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.