Wealthfront Advisers LLC Purchases 1,122,064 Shares of SBA Communications Co. (NASDAQ:SBAC)

Wealthfront Advisers LLC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 23,553.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,126,828 shares of the technology company's stock after purchasing an additional 1,122,064 shares during the quarter. Wealthfront Advisers LLC owned 1.05% of SBA Communications worth $229,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBAC. Farther Finance Advisors LLC lifted its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after purchasing an additional 53 shares during the period. Janney Montgomery Scott LLC lifted its position in SBA Communications by 59.7% during the third quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company's stock worth $973,000 after purchasing an additional 1,511 shares during the period. Capital Performance Advisors LLP bought a new stake in SBA Communications during the third quarter worth about $35,000. CWA Asset Management Group LLC bought a new stake in SBA Communications during the third quarter worth about $331,000. Finally, Assetmark Inc. lifted its position in SBA Communications by 4,633.3% during the third quarter. Assetmark Inc. now owns 426 shares of the technology company's stock worth $103,000 after purchasing an additional 417 shares during the period. Institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several research analyst reports. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They set an "outperform" rating and a $250.00 target price for the company. Barclays lowered their target price on SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. BMO Capital Markets reissued a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and an average price target of $252.54.

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Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

SBA Communications Price Performance

Shares of SBAC stock opened at $224.91 on Tuesday. The business's 50 day simple moving average is $206.00 and its 200 day simple moving average is $220.56. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a market capitalization of $24.18 billion, a PE ratio of 35.47, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. 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 1.97%. SBA Communications's dividend payout ratio is presently 63.98%.

SBA Communications Company 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.

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