Sovereign s Capital Management LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,685 shares of the technology company's stock, valued at approximately $751,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the 4th quarter worth approximately $27,000. Graney & King LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $29,000. Oakworth Capital Inc. boosted its holdings in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications in the 4th quarter valued at $56,000. Finally, State of Wyoming boosted its holdings 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 during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SBAC has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Morgan Stanley assumed coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective on the stock. Citigroup boosted their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, JMP Securities boosted their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.
Get Our Latest Report on SBA Communications
Insiders Place Their Bets
In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This 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 insiders.
SBA Communications Stock Down 1.6%
NASDAQ SBAC 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 one year low of $185.44 and a one year 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 is $225.50 and its two-hundred day moving average is $216.14.
SBA Communications Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.
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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