Toronto Dominion Bank Raises Position in SBA Communications Co. (NASDAQ:SBAC)

Toronto Dominion Bank increased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,763 shares of the technology company's stock after purchasing an additional 4,330 shares during the period. Toronto Dominion Bank owned approximately 0.06% of SBA Communications worth $14,014,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the 4th quarter valued at $27,000. Graney & King LLC bought a new stake in shares of SBA Communications during the fourth quarter worth approximately $29,000. Oakworth Capital Inc. raised its stake in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after buying an additional 144 shares during the last quarter. State of Wyoming lifted its holdings in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after buying an additional 119 shares during the period. Finally, Sherman Asset Management Inc. bought a new position in SBA Communications in the fourth quarter valued at approximately $73,000. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays raised their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. BMO Capital Markets lifted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target for the company. in a report on Tuesday, May 20th. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, JMP Securities increased their price target 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 given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $253.43.

Insider Buying and Selling

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the 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 directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

SBA Communications Trading Up 0.3%

NASDAQ SBAC traded up $0.73 during midday trading on Friday, hitting $230.97. The company had a trading volume of 1,256,458 shares, compared to its average volume of 897,007. The company has a market capitalization of $24.82 billion, a PE ratio of 36.43, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a twelve month low of $187.06 and a twelve month high of $252.64. The firm has a 50-day moving average price of $226.55 and a 200-day moving average price of $216.38.

SBA Communications Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.

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.