Vanderbilt University Has $1.63 Million Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Vanderbilt University raised its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 76.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,409 shares of the technology company's stock after purchasing an additional 3,201 shares during the period. Vanderbilt University's holdings in SBA Communications were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SBAC. Dodge & Cox raised its position in shares of SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after purchasing an additional 5,722,740 shares in the last quarter. Norges Bank acquired a new stake in shares of SBA Communications during the 4th quarter valued at approximately $268,287,000. Wealthfront Advisers LLC raised its position in shares of 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 acquiring an additional 1,122,064 shares in the last quarter. BROOKFIELD Corp ON raised its position in shares of 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 acquiring an additional 987,647 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after acquiring an additional 565,137 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC traded up $4.81 during trading hours on Monday, reaching $234.12. 573,919 shares of the company's stock traded hands, compared to its average volume of 887,065. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 1.90 and a beta of 0.78. SBA Communications Corporation has a twelve month low of $187.06 and a twelve month high of $252.64. The business's fifty day simple moving average is $230.62 and its two-hundred day simple moving average is $217.07.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were issued 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 (DPR) is 60.91%.

Insider Activity at SBA Communications

In related 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 transaction, the director now owns 10,522 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Company insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup upped their price target on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. JMP Securities upped 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. Royal Bank Of Canada reissued an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. BMO Capital Markets upped 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. Finally, Morgan Stanley assumed 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. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $253.43.

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.