Raiffeisen Bank International AG Buys New Shares in SBA Communications Co. (NASDAQ:SBAC)

Raiffeisen Bank International AG acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,213 shares of the technology company's stock, valued at approximately $857,000.

A number of other large investors also recently modified their holdings of the business. Rockbridge Capital Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth about $1,228,000. Point72 Europe London LLP boosted its stake in shares of SBA Communications by 132.6% during the 4th quarter. Point72 Europe London LLP now owns 104,427 shares of the technology company's stock worth $21,282,000 after buying an additional 59,527 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of SBA Communications by 1.9% during the 4th quarter. ProShare Advisors LLC now owns 27,611 shares of the technology company's stock worth $5,627,000 after buying an additional 528 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of SBA Communications by 91.4% during the 4th quarter. Quantinno Capital Management LP now owns 55,058 shares of the technology company's stock worth $11,221,000 after buying an additional 26,292 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of SBA Communications during the 4th quarter worth about $323,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

SBA Communications Price Performance

Shares of SBA Communications stock traded down $1.73 on Tuesday, reaching $233.78. 648,249 shares of the company traded hands, compared to its average volume of 899,404. SBA Communications Co. has a 52 week low of $185.44 and a 52 week high of $252.64. The company has a 50 day moving average of $224.85 and a 200 day moving average of $215.90. The firm has a market capitalization of $25.16 billion, a PE ratio of 36.87, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. SBA Communications's dividend payout ratio is 60.91%.

Analysts Set New Price Targets

SBAC has been the subject of several recent analyst reports. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research report on Tuesday. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Royal Bank of Canada restated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Finally, Raymond James restated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

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.