DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Buys New Shares in SBA Communications Co. (NASDAQ:SBAC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,500 shares of the technology company's stock, valued at approximately $713,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBAC. Exchange Traded Concepts LLC increased its position in shares of SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after buying an additional 50 shares during the period. Auxano Advisors LLC grew its stake in SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after acquiring an additional 54 shares in the last quarter. DoubleLine ETF Adviser LP grew its stake in SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after acquiring an additional 57 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock worth $225,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after purchasing an additional 64 shares during the period. 97.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $239.66 on Monday. SBA Communications Co. has a 52-week low of $185.44 and a 52-week high of $252.64. The company has a fifty day moving average of $223.82 and a 200-day moving average of $216.07. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 37.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The business 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 dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Morgan Stanley began coverage on SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective for the company. Raymond James restated a "strong-buy" rating and issued a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Finally, Citigroup lifted their target price on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Six 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 company's stock. According to data from MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and a consensus target price of $252.38.

About SBA Communications

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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