Simon Quick Advisors LLC Invests $343,000 in SBA Communications Corporation (NASDAQ:SBAC)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. Independence Bank of Kentucky purchased a new position in shares of SBA Communications during the first quarter worth about $28,000. Graney & King LLC purchased a new position in SBA Communications during the 4th quarter worth approximately $29,000. NBC Securities Inc. increased 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 worth $44,000 after buying an additional 189 shares during the period. Farther Finance Advisors LLC increased 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 worth $55,000 after buying an additional 45 shares during the period. Finally, State of Wyoming lifted its stake in SBA Communications by 75.8% in 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 last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBA Communications stock traded down $0.74 during midday trading on Wednesday, reaching $227.79. The company's stock had a trading volume of 300,384 shares, compared to its average volume of 894,839. The firm has a market capitalization of $24.48 billion, a PE ratio of 31.25, a P/E/G ratio of 1.90 and a beta of 0.78. SBA Communications Corporation has a fifty-two week low of $187.06 and a fifty-two week high of $252.64. The stock's 50 day simple moving average is $229.58 and its 200 day simple moving average is $216.87.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. JMP Securities increased their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Barclays boosted their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research report on Tuesday, April 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $253.43.

Insider Buying and Selling

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 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 now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by insiders.

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.