IFM Investors Pty Ltd increased its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,715 shares of the technology company's stock after acquiring an additional 1,434 shares during the period. IFM Investors Pty Ltd's holdings in SBA Communications were worth $8,356,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in SBA Communications during the first quarter valued at about $28,000. Graney & King LLC purchased a new stake in SBA Communications during the fourth quarter valued at about $29,000. NBC Securities Inc. boosted its position 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 during the period. Farther Finance Advisors LLC boosted its position 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 during the period. Finally, State of Wyoming boosted its position 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 during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at SBA Communications
In related 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 value of $1,202,950.00. Following the sale, the director owned 10,522 shares in the company, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company's stock.
SBA Communications Stock Down 0.2%
Shares of SBA Communications stock traded down $0.40 on Tuesday, reaching $233.19. The company's stock had a trading volume of 193,731 shares, compared to its average volume of 877,540. SBA Communications Corporation has a 52 week low of $190.91 and a 52 week high of $252.64. The firm's fifty day simple moving average is $232.38 and its two-hundred day simple moving average is $218.71. The company has a market capitalization of $25.06 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.93 and a beta of 0.78.
SBA Communications Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.
Analyst Ratings Changes
SBAC has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target for the company. BMO Capital Markets upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. Citigroup upped their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a report on Tuesday, May 20th. Finally, Barclays raised their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report 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 company's stock. According to MarketBeat.com, SBA Communications currently has an average rating of "Moderate Buy" and an average price target of $255.53.
Read Our Latest Report on SBAC
About SBA Communications
(
Free Report)
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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