1,935 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by LVW Advisors LLC

LVW Advisors LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,935 shares of the technology company's stock, valued at approximately $426,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dodge & Cox boosted its stake in SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares during the last quarter. Norges Bank acquired a new position in shares of SBA Communications in the 4th quarter valued at $268,287,000. Wealthfront Advisers LLC increased its position in shares of SBA Communications by 23,553.0% in the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock valued at $229,648,000 after buying an additional 1,122,064 shares in the last quarter. BROOKFIELD Corp ON raised its stake in SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after buying an additional 987,647 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company'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 value of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by company insiders.

SBA Communications Trading Down 1.2%

Shares of SBAC stock traded down $2.76 during trading on Friday, hitting $226.89. The company's stock had a trading volume of 107,967 shares, compared to its average volume of 888,167. The business has a fifty day moving average of $227.95 and a 200-day moving average of $216.75. The company has a market cap of $24.38 billion, a PE ratio of 35.72, a P/E/G ratio of 0.74 and a beta of 0.78. SBA Communications Co. has a 52 week low of $187.06 and a 52 week high of $252.64.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays increased their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Raymond James reaffirmed a "strong-buy" rating and set a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. JMP Securities increased their price objective on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Finally, Bank of America began coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 target price on the stock. Seven 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

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.