Polar Asset Management Partners Inc. Has $11.03 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Polar Asset Management Partners Inc. cut its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 35.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,100 shares of the technology company's stock after selling 29,500 shares during the period. Polar Asset Management Partners Inc. owned about 0.05% of SBA Communications worth $11,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter worth approximately $27,000. Graney & King LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at about $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 valued at $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group bought a new stake in shares of SBA Communications in the 4th quarter valued at $56,000. Finally, State of Wyoming grew its stake in shares of 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 buying an additional 119 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 0.3%

SBA Communications stock traded up $0.67 during mid-day trading on Friday, hitting $230.91. 308,500 shares of the company's stock were exchanged, compared to its average volume of 893,334. The stock has a market cap of $24.81 billion, a P/E ratio of 36.46, a P/E/G ratio of 0.74 and a beta of 0.83. The stock has a 50 day moving average of $226.55 and a two-hundred day moving average of $216.38. SBA Communications Co. has a 1-year low of $187.06 and a 1-year high of $252.64.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis 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%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBAC shares. Raymond James reiterated a "strong-buy" rating and set a $268.00 price target (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. JMP Securities increased their target price on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Barclays lifted their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Finally, Bank of America initiated coverage on SBA Communications in a research note on Monday, May 19th. They issued a "buy" rating and a $260.00 target price on the stock. Seven equities research 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, SBA Communications currently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

Insider Activity at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the firm'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 completion of the sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

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.