Captrust Financial Advisors Purchases 2,420 Shares of SBA Communications Co. (NASDAQ:SBAC)

Captrust Financial Advisors raised its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 56.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,738 shares of the technology company's stock after acquiring an additional 2,420 shares during the quarter. Captrust Financial Advisors' holdings in SBA Communications were worth $1,373,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications during the fourth quarter valued at approximately $27,000. Graney & King LLC purchased a new position in SBA Communications in the 4th quarter worth approximately $29,000. Oakworth Capital Inc. raised its holdings in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group purchased a new position in SBA Communications in the 4th quarter worth approximately $56,000. Finally, Sherman Asset Management Inc. purchased a new position in SBA Communications in the 4th quarter worth approximately $73,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $222.73 on Thursday. The firm has a fifty day moving average price of $224.13 and a 200 day moving average price of $216.10. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64. The stock has a market cap of $23.97 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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. Raymond James reiterated 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. JMP Securities boosted their target price on shares of SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 29th. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Finally, Citigroup boosted their target price on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $252.38.

Insider Activity

In other news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joshua Koenig sold 2,209 shares of the business'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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

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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