2,500 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by EHP Funds Inc.

EHP Funds Inc. acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,500 shares of the technology company's stock, valued at approximately $510,000. SBA Communications comprises 0.5% of EHP Funds Inc.'s investment portfolio, making the stock its 29th biggest holding.

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

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the transaction, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 completion of the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

SBA Communications Trading Up 1.3 %

Shares of NASDAQ:SBAC traded up $3.04 on Friday, reaching $239.66. 670,644 shares of the company's stock were exchanged, compared to its average volume of 897,620. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64. The company has a fifty day moving average of $223.82 and a 200-day moving average of $216.28. The company has a market capitalization of $25.79 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The business 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. 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 60.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBAC shares. 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 note on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Raymond James reiterated a "strong-buy" rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Barclays increased their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Finally, StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, 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.