SBA Communications Co. (NASDAQ:SBAC) Position Raised by DigitalBridge Group Inc.

DigitalBridge Group Inc. lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 835,342 shares of the technology company's stock after buying an additional 22,830 shares during the quarter. SBA Communications makes up 12.1% of DigitalBridge Group Inc.'s holdings, making the stock its 2nd largest holding. DigitalBridge Group Inc. owned about 0.78% of SBA Communications worth $170,243,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dodge & Cox increased its holdings in shares of SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after buying an additional 605,872 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock worth $586,827,000 after acquiring an additional 71,023 shares in the last quarter. Cohen & Steers Inc. lifted its position in SBA Communications by 29.8% during the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after acquiring an additional 432,644 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in SBA Communications by 8.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock worth $379,290,000 after buying an additional 142,054 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Up 1.3 %

SBAC traded up $3.04 on Friday, hitting $239.66. The company had a trading volume of 670,644 shares, compared to its average volume of 896,887. The company's fifty day moving average price is $223.82 and its 200 day moving average price is $216.47. The firm has a market cap of $25.79 billion, a P/E ratio of 37.80, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders 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 dividend yield of 1.85%. SBA Communications's payout ratio is presently 60.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SBAC shares. JMP Securities lifted their target price 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, April 29th. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. BMO Capital Markets raised their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Morgan Stanley began coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and a consensus target price of $252.38.

Insider Activity at SBA Communications

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 business's stock in a transaction 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 transaction, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Company 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.