Teacher Retirement System of Texas Buys 14,713 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Teacher Retirement System of Texas grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1,462.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,719 shares of the technology company's stock after purchasing an additional 14,713 shares during the period. Teacher Retirement System of Texas' holdings in SBA Communications were worth $3,458,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SBAC. Independence Bank of Kentucky bought a new position in SBA Communications during the first quarter valued at about $28,000. Graney & King LLC bought a new position in SBA Communications during the fourth quarter valued at about $29,000. NBC Securities Inc. boosted its stake in SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after buying an additional 189 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after buying an additional 45 shares in the last quarter. Finally, State of Wyoming boosted its stake in SBA Communications by 75.8% during 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 in the last quarter. Institutional investors own 97.35% of the company's stock.

Insider Buying and Selling at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is owned by company insiders.

SBA Communications Trading Down 0.6%

NASDAQ SBAC traded down $1.48 during trading on Thursday, reaching $232.79. 583,298 shares of the company's stock were exchanged, compared to its average volume of 880,311. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64. The firm has a market capitalization of $25.01 billion, a PE ratio of 31.93, a P/E/G ratio of 1.93 and a beta of 0.78. The company's fifty day simple moving average is $232.11 and its 200-day simple moving average is $218.92.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research reports. Bank of America initiated coverage on SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 target price for the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. BMO Capital Markets increased their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Morgan Stanley started coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target for the company. Finally, JMP Securities increased their price target on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and a consensus target price of $255.53.

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.