Optas LLC Buys Shares of 1,197 SBA Communications Corporation (NASDAQ:SBAC)

Optas LLC purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,197 shares of the technology company's stock, valued at approximately $263,000.

A number of other large investors have also made changes to their positions in SBAC. Independence Bank of Kentucky purchased a new position in shares of SBA Communications during the 1st quarter valued at about $28,000. Graney & King LLC purchased a new stake in SBA Communications in the 4th quarter worth approximately $29,000. NBC Securities Inc. raised its stake in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after acquiring an additional 189 shares during the period. Farther Finance Advisors LLC raised its stake in SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after acquiring an additional 45 shares during the period. Finally, State of Wyoming lifted its holdings in SBA Communications by 75.8% during the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after purchasing an additional 119 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $0.20 on Thursday, reaching $228.32. The company's stock had a trading volume of 595,899 shares, compared to its average volume of 887,958. The company has a 50-day simple moving average of $229.91 and a 200 day simple moving average of $216.95. SBA Communications Corporation has a 52-week low of $187.06 and a 52-week high of $252.64. The company has a market cap of $24.53 billion, a P/E ratio of 31.32, a PEG ratio of 1.89 and a beta of 0.78.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.94%. SBA Communications's payout ratio is currently 60.91%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SBAC shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Barclays upped their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Morgan Stanley began coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price on the stock. JMP Securities increased their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $253.43.

Insider Buying and Selling at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the business'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 transaction, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.92% of the company's stock.

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.