26,062 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by Sophron Capital Management L.P.

Sophron Capital Management L.P. bought a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,062 shares of the technology company's stock, valued at approximately $5,311,000. SBA Communications accounts for 2.1% of Sophron Capital Management L.P.'s investment portfolio, making the stock its 20th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at $27,000. Graney & King LLC acquired a new position in SBA Communications during the 4th quarter worth $29,000. Oakworth Capital Inc. grew its stake in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in SBA Communications during the 4th quarter worth $56,000. Finally, State of Wyoming grew its stake in SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on SBAC. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Citigroup boosted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut 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. 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 research note 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 equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company'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 transaction of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

SBA Communications Trading Down 1.6%

Shares of SBA Communications stock traded down $3.63 on Thursday, hitting $228.27. The stock had a trading volume of 705,289 shares, compared to its average volume of 898,140. SBA Communications Co. has a 52-week low of $185.44 and a 52-week high of $252.64. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 36.00, a P/E/G ratio of 0.74 and a beta of 0.83. The company's 50 day moving average price is $225.50 and its 200 day moving average price is $216.14.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio is presently 60.91%.

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.