Teacher Retirement System of Texas Has $3.46 Million Stock Holdings in SBA Communications Corporation (NASDAQ:SBAC)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in SBA Communications by 2.3% in the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after purchasing an additional 50 shares in the last quarter. DoubleLine ETF Adviser LP grew its stake in SBA Communications by 0.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after purchasing an additional 57 shares in the last quarter. Oakworth Capital Inc. grew its stake in SBA Communications by 25.8% in the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its stake in SBA Communications by 6.0% in the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock valued at $242,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBAC shares. UBS Group lifted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays lifted their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Citigroup lifted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley started coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Finally, JMP Securities lifted their target price on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.53.

SBA Communications Stock Performance

NASDAQ:SBAC traded down $1.00 during mid-day trading on Thursday, hitting $233.27. 107,338 shares of the stock were exchanged, compared to its average volume of 877,227. The stock has a market capitalization of $25.06 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78. The firm's 50-day simple moving average is $232.11 and its 200 day simple moving average is $218.92. SBA Communications Corporation has a fifty-two week low of $191.79 and a fifty-two week high of $252.64.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were issued a $1.11 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.90%. SBA Communications's dividend payout ratio is presently 60.91%.

Insiders Place Their Bets

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director directly owned 10,522 shares of the company's stock, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by corporate insiders.

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.