8,820 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Adelante Capital Management LLC

Adelante Capital Management LLC purchased a new position in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,820 shares of the technology company's stock, valued at approximately $1,798,000.

Several other institutional investors have also made changes to their positions in the stock. Evermay Wealth Management LLC acquired a new position in SBA Communications in the 4th quarter worth about $27,000. Graney & King LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at approximately $29,000. Oakworth Capital Inc. increased its holdings in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after buying an additional 144 shares during the last quarter. CKW Financial Group bought a new position in SBA Communications during the fourth quarter valued at approximately $56,000. Finally, Versant Capital Management Inc lifted its stake in SBA Communications by 17.3% in 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 last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the business's 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 sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

SBA Communications Stock Up 0.5 %

NASDAQ SBAC traded up $1.22 during midday trading on Friday, hitting $241.96. The company had a trading volume of 758,609 shares, compared to its average volume of 899,356. The firm has a fifty day simple moving average of $221.64 and a two-hundred day simple moving average of $216.66. SBA Communications Co. has a fifty-two week low of $185.44 and a fifty-two week high of $252.64. The stock has a market cap of $26.04 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.84%. SBA Communications's dividend payout ratio is 60.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. JMP Securities increased their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Barclays increased their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, BMO Capital Markets boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $252.38.

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.