SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 255.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,288 shares of the technology company's stock after buying an additional 7,394 shares during the period. Squarepoint Ops LLC's holdings in SBA Communications were worth $2,097,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Barclays PLC raised its position in SBA Communications by 71.0% in the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after purchasing an additional 273,237 shares during the period. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after buying an additional 605,872 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of SBA Communications by 35.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company's stock worth $1,116,000 after buying an additional 1,435 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after buying an additional 50 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of SBA Communications by 13.7% during the 4th quarter. Blue Trust Inc. now owns 2,716 shares of the technology company's stock worth $554,000 after acquiring an additional 327 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the company'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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now 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. Insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JMP Securities upped their price objective 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. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Morgan Stanley initiated coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research note on Tuesday, May 20th. Finally, Citigroup lifted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications Stock Down 0.4%

Shares of NASDAQ SBAC traded down $0.83 during mid-day trading on Monday, reaching $231.06. 522,832 shares of the company were exchanged, compared to its average volume of 892,054. SBA Communications Co. has a 1 year low of $187.06 and a 1 year high of $252.64. The firm has a 50-day moving average of $227.21 and a 200 day moving average of $216.50. The stock has a market cap of $24.83 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

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