36,563 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ purchased a new position in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 36,563 shares of the technology company's stock, valued at approximately $7,452,000.

Several other hedge funds have also made changes to their positions in SBAC. Barclays PLC lifted its holdings in shares of SBA Communications by 71.0% in the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after purchasing an additional 273,237 shares during the last quarter. JPMorgan Chase & Co. lifted 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 worth $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of SBA Communications by 35.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company's stock worth $1,116,000 after purchasing an additional 1,435 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after purchasing an additional 50 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of SBA Communications by 13.7% in the 4th quarter. Blue Trust Inc. now owns 2,716 shares of the technology company's stock worth $554,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SBAC shares. Deutsche Bank Aktiengesellschaft downgraded SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a report on Tuesday, May 20th. Raymond James reissued a "strong-buy" rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Barclays lifted their target price on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Bank of America assumed coverage on SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $253.43.

SBA Communications Trading Down 0.4%

NASDAQ SBAC traded down $0.83 on Monday, reaching $231.06. The stock had a trading volume of 522,832 shares, compared to its average volume of 892,055. The business has a 50 day moving average price of $227.21 and a 200 day moving average price of $216.50. SBA Communications Co. has a 1 year low of $187.06 and a 1 year high of $252.64. The company has a market capitalization of $24.83 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.92%. SBA Communications's dividend payout ratio is 60.91%.

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.