4,102 Shares in SBA Communications Corporation (NASDAQ:SBAC) Bought by MQS Management LLC

MQS Management LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,102 shares of the technology company's stock, valued at approximately $902,000. SBA Communications accounts for approximately 0.5% of MQS Management LLC's holdings, making the stock its 19th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in SBA Communications in the first quarter valued at approximately $28,000. Graney & King LLC acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $29,000. Allworth Financial LP grew its position in shares of SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the last quarter. NBC Securities Inc. grew its position in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of SBA Communications in the first quarter valued at approximately $51,000. Institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the stock in a transaction 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 transaction, the director directly owned 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America assumed coverage on SBA Communications in a research report on Monday, May 19th. They issued a "buy" rating and a $260.00 target price on the stock. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Finally, 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 research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.53.

SBA Communications Stock Up 1.7%

Shares of SBAC stock traded up $3.86 during trading hours on Wednesday, reaching $233.89. The company's stock had a trading volume of 1,058,355 shares, compared to its average volume of 873,521. The firm's 50 day simple moving average is $231.24 and its 200-day simple moving average is $219.81. The company has a market capitalization of $25.13 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 1.90 and a beta of 0.78. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were paid a $1.11 dividend. 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 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.