Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,563 shares of the technology company's stock, valued at approximately $7,452,000.
Other institutional investors have also made changes to their positions in the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter worth about $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. boosted its holdings in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after acquiring an additional 144 shares in the last quarter. State of Wyoming boosted its holdings in shares of SBA Communications by 75.8% in the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after acquiring an additional 119 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new position in shares of SBA Communications in the 4th quarter worth approximately $73,000. 97.35% of the stock is currently owned by institutional investors.
Insider Activity at SBA Communications
In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now 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 disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Citigroup boosted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Barclays increased their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Finally, JMP Securities increased their target price on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Seven 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, the stock has an average rating of "Moderate Buy" and an average price target of $253.43.
Check Out Our Latest Analysis on SBAC
SBA Communications Trading Up 0.3%
Shares of SBA Communications stock traded up $0.73 during trading hours on Friday, reaching $230.97. 1,256,458 shares of the company's stock were exchanged, compared to its average volume of 896,334. SBA Communications Co. has a fifty-two week low of $187.06 and a fifty-two week high of $252.64. The stock has a market cap of $24.82 billion, a P/E ratio of 36.43, a P/E/G ratio of 0.74 and a beta of 0.83. The company has a 50 day moving average of $226.89 and a two-hundred day moving average of $216.46.
SBA Communications Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors 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 annualized dividend and a yield of 1.92%. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.
About SBA Communications
(
Free Report)
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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