SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 68,763 shares of the technology company's stock after purchasing an additional 4,330 shares during the period. Toronto Dominion Bank owned 0.06% of SBA Communications worth $14,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in SBA Communications by 23.9% during the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after buying an additional 38,725 shares during the period. NEOS Investment Management LLC raised its holdings in SBA Communications by 29.3% in the 4th quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock valued at $1,118,000 after buying an additional 1,243 shares during the period. Victory Capital Management Inc. increased its stake in SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after purchasing an additional 565,137 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in SBA Communications by 35.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company's stock worth $1,116,000 after purchasing an additional 1,435 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction 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 $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBAC. Barclays upped their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Bank of America initiated coverage on SBA Communications in a research report on Monday, May 19th. They issued a "buy" rating and a $260.00 price target for the company. Deutsche Bank Aktiengesellschaft cut 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. Citigroup lifted their price objective on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, BMO Capital Markets boosted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. 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's stock. According to data from MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and an average price target of $253.43.

SBA Communications Price Performance

Shares of SBA Communications stock traded up $0.73 during trading hours on Friday, reaching $230.97. The company had a trading volume of 1,256,458 shares, compared to its average volume of 893,538. SBA Communications Co. has a one year low of $187.06 and a one year high of $252.64. The business has a fifty day simple moving average of $226.89 and a 200 day simple moving average of $216.43. The firm has a market cap of $24.82 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The business 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 (DPR) is currently 60.91%.

About SBA Communications

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.