Optas LLC Acquires New Shares in SBA Communications Co. (NASDAQ:SBAC)

Optas LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,197 shares of the technology company's stock, valued at approximately $263,000.

Several other large investors have also added to or reduced their stakes in SBAC. Independence Bank of Kentucky purchased a new stake in shares of SBA Communications in the first quarter worth about $28,000. Graney & King LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $29,000. NBC Securities Inc. increased its holdings 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 lifted its stake in SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares in the last quarter. Finally, State of Wyoming boosted its holdings in SBA Communications by 75.8% in the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after purchasing an additional 119 shares during the period. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 0.1%

SBA Communications stock opened at $227.83 on Monday. The firm has a fifty day simple moving average of $228.82 and a two-hundred day simple moving average of $216.76. SBA Communications Co. has a twelve month low of $187.06 and a twelve month high of $252.64. The company has a market capitalization of $24.48 billion, a PE ratio of 35.94, a P/E/G ratio of 0.74 and a beta of 0.78.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Insider Activity at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications 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 transaction, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SBAC shares. Wall Street Zen cut shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Royal Bank of Canada restated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft cut 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. JMP Securities boosted their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $253.43.

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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.