SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 184,941 shares of the technology company's stock after purchasing an additional 36,174 shares during the period. Royal Bank of Canada owned 0.17% of SBA Communications worth $37,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter valued at about $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the 4th quarter worth approximately $29,000. Oakworth Capital Inc. lifted its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group acquired a new stake in shares of SBA Communications in the 4th quarter worth approximately $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications in the 4th quarter worth approximately $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

SBA Communications Price Performance

NASDAQ SBAC opened at $228.27 on Friday. The company's 50 day simple moving average is $225.65 and its 200 day simple moving average is $216.13. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The company has a market capitalization of $24.53 billion, a P/E ratio of 36.00, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders 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 1.95%. SBA Communications's dividend payout ratio is currently 60.91%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Raymond James reaffirmed a "strong-buy" rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. JMP Securities upped their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Finally, Bank of America assumed coverage on shares of SBA Communications in a research note on Monday. They issued a "buy" rating and a $260.00 price target for the company. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications 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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