SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 15.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,232 shares of the technology company's stock after acquiring an additional 11,988 shares during the quarter. Gateway Investment Advisers LLC owned about 0.08% of SBA Communications worth $19,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC raised its position in SBA Communications by 23.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after purchasing an additional 246 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of SBA Communications by 3.0% during 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 lifted its position in SBA Communications by 29.3% during the 4th quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock worth $1,118,000 after acquiring an additional 1,243 shares in the last quarter. Victory Capital Management Inc. lifted its position in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in SBA Communications by 31.7% in the 4th quarter. Sanctuary Advisors LLC now owns 7,471 shares of the technology company's stock worth $1,488,000 after acquiring an additional 1,799 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Insiders Place Their Bets

In other news, Director Jack Langer sold 5,000 shares of the company'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 completion of the transaction, the director now directly owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of analyst reports. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Citigroup raised their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. JMP Securities boosted their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Royal Bank of Canada restated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Finally, BMO Capital Markets lifted their target price 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $253.43.

SBA Communications Stock Down 1.7%

Shares of NASDAQ SBAC opened at $225.68 on Friday. The stock's 50 day moving average price is $228.05 and its two-hundred day moving average price is $216.79. SBA Communications Co. has a 52-week low of $187.06 and a 52-week high of $252.64. The stock has a market capitalization of $24.25 billion, a P/E ratio of 35.60, a PEG ratio of 0.74 and a beta of 0.78.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.97%. SBA Communications's dividend payout ratio (DPR) is 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.

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