SBA Communications Co. (NASDAQ:SBAC) Stake Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 46.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,781,231 shares of the technology company's stock after buying an additional 565,137 shares during the quarter. Victory Capital Management Inc. owned about 1.66% of SBA Communications worth $363,015,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications in the 3rd quarter valued at $26,000. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at $35,000. Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after acquiring an additional 53 shares during the period. Finally, Oakworth Capital Inc. increased its holdings 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 acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $253.07.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares of the company's stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the firm's stock in a transaction that occurred on 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 directly owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

NASDAQ SBAC traded up $1.03 during trading hours on Wednesday, reaching $220.38. The company's stock had a trading volume of 792,237 shares, compared to its average volume of 846,989. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The stock has a market cap of $23.70 billion, a PE ratio of 34.76, a PEG ratio of 0.74 and a beta of 0.69. The company's 50-day moving average is $204.87 and its two-hundred day moving average is $220.48.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.

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.