Simon Quick Advisors LLC Makes New $343,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Simon Quick Advisors LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,560 shares of the technology company's stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in SBA Communications during the first quarter worth approximately $28,000. Graney & King LLC purchased a new stake in shares of SBA Communications during the 4th quarter valued at about $29,000. NBC Securities Inc. lifted its position in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after purchasing an additional 189 shares in the last quarter. Farther Finance Advisors LLC grew its stake in SBA Communications by 22.0% during the 1st 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. Finally, State of Wyoming raised its stake in shares of SBA Communications by 75.8% in the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBAC. JMP Securities boosted their target price on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Bank of America started coverage on shares of SBA Communications in a report on Monday, May 19th. They issued a "buy" rating and a $260.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research note on Tuesday, May 20th. Barclays raised their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $253.43.

SBA Communications Stock Up 1.7%

SBAC traded up $3.77 during trading on Monday, reaching $231.60. 123,468 shares of the company were exchanged, compared to its average volume of 882,880. The company's 50-day moving average is $228.82 and its two-hundred day moving average is $216.76. The company has a market cap of $24.89 billion, a price-to-earnings ratio of 36.50, a P/E/G ratio of 0.74 and a beta of 0.78. SBA Communications Co. has a 12-month low of $187.06 and a 12-month high of $252.64.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.92%. SBA Communications's payout ratio is 60.91%.

Insider Activity

In other news, Director Jack Langer sold 5,000 shares of the stock in a transaction 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 now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.92% of the company's stock.

SBA Communications Company 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.