SBA Communications Corporation (NASDAQ:SBAC) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,715 shares of the technology company's stock after acquiring an additional 1,434 shares during the quarter. IFM Investors Pty Ltd's holdings in SBA Communications were worth $8,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dodge & Cox raised its stake in shares of SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares in the last quarter. Norges Bank bought a new position in shares of SBA Communications during the 4th quarter worth approximately $268,287,000. Wealthfront Advisers LLC increased its stake in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock valued at $229,648,000 after purchasing an additional 1,122,064 shares in the last quarter. BROOKFIELD Corp ON increased its stake in SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock valued at $202,016,000 after purchasing an additional 987,647 shares in the last quarter. Finally, Voyager Global Management LP acquired a new position in SBA Communications during the 4th quarter valued at approximately $95,786,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 0.3%

SBAC stock traded down $0.73 during trading on Monday, reaching $233.21. 96,477 shares of the stock were exchanged, compared to its average volume of 877,959. The business has a 50 day moving average price of $232.17 and a 200-day moving average price of $218.50. SBA Communications Corporation has a 1 year low of $190.91 and a 1 year high of $252.64. The firm has a market capitalization of $25.06 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 1.93 and a beta of 0.78.

SBA Communications Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on SBAC. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Morgan Stanley began coverage on SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Citigroup increased their price target on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

Insider Buying and Selling at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The shares were 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 owned 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.92% of the stock is currently 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.