Commerzbank Aktiengesellschaft FI Acquires 2,540 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 85.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,507 shares of the technology company's stock after purchasing an additional 2,540 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in SBA Communications were worth $1,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SBAC. Independence Bank of Kentucky purchased a new stake in SBA Communications during the first quarter worth $28,000. Graney & King LLC purchased a new stake in shares of SBA Communications during the 4th quarter valued at approximately $29,000. Allworth Financial LP raised its position in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after buying an additional 62 shares during the period. NBC Securities Inc. raised its position in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after buying an additional 189 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in SBA Communications in the 1st quarter valued at approximately $51,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded up $1.04 during trading hours on Friday, hitting $233.90. 395,556 shares of the stock were exchanged, compared to its average volume of 871,069. The company's 50 day moving average is $230.92 and its 200 day moving average is $220.32. The firm has a market capitalization of $25.13 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.92 and a beta of 0.78. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Insider Activity

In other 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 transaction of $1,202,950.00. Following the completion of the sale, the director owned 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBAC. JMP Securities lifted their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Bank of America began coverage on shares of SBA Communications in a report on Monday, May 19th. They issued a "buy" rating and a $260.00 target price for the company. UBS Group boosted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Scotiabank began coverage on shares of SBA Communications in a research note on Thursday. They set a "sector perform" rating and a $252.00 price target on the stock. Finally, Barclays boosted 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. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.31.

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.