SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,411,920 shares of the technology company's stock after acquiring an additional 134,624 shares during the period. Deutsche Bank AG owned 2.24% of SBA Communications worth $491,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter worth $27,000. Graney & King LLC acquired a new position in SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. grew its stake in SBA Communications by 161.8% during 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 in the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter valued at about $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in SBA Communications in the 4th quarter valued at about $73,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC traded up $3.04 during midday trading on Friday, hitting $239.66. 670,644 shares of the stock were exchanged, compared to its average volume of 897,620. SBA Communications Co. has a 52-week low of $185.44 and a 52-week high of $252.64. The stock has a fifty day simple moving average of $223.82 and a 200 day simple moving average of $216.28. The firm has a market cap of $25.79 billion, a P/E ratio of 37.80, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.

Analysts Set New Price Targets

SBAC has been the subject of several recent research reports. Citigroup increased their price target on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Morgan Stanley began coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. 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 stock. According to MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and an average target price of $252.38.

Insiders Place Their Bets

In related news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. This represents a 32.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, 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 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.