United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes Position in SBA Communications Co. (NASDAQ:SBAC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,700 shares of the technology company's stock, valued at approximately $754,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $27,000. Graney & King LLC bought a new position in SBA Communications in the 4th quarter valued at $29,000. Oakworth Capital Inc. increased its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares during the period. CKW Financial Group bought a new stake in shares of SBA Communications during the fourth quarter worth $56,000. Finally, Versant Capital Management Inc lifted 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 valued at $73,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated Friday, March 7th. The stock was 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 of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company's stock.

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SBA Communications Stock Performance

SBAC stock traded up $0.46 during mid-day trading on Friday, hitting $216.84. 533,757 shares of the company were exchanged, compared to its average volume of 871,640. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm's 50 day simple moving average is $211.31 and its 200 day simple moving average is $219.36. The firm has a market cap of $23.34 billion, a P/E ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, March 13th. SBA Communications's payout ratio is currently 63.98%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SBAC shares. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Tuesday, March 25th. Royal Bank of Canada restated an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Barclays raised 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. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.85.

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.