Versant Capital Management Inc Buys 1,261 Shares of SBA Communications Co. (NASDAQ:SBAC)

Versant Capital Management Inc grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 350.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,621 shares of the technology company's stock after buying an additional 1,261 shares during the quarter. Versant Capital Management Inc's holdings in SBA Communications were worth $357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dodge & Cox lifted its stake in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares during the last quarter. Norges Bank bought a new stake in SBA Communications in the fourth quarter worth $268,287,000. Wealthfront Advisers LLC lifted its stake in SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock worth $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. BROOKFIELD Corp ON lifted its stake in SBA Communications by 27,449.9% in the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after purchasing an additional 987,647 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SBAC shares. 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 target on the stock. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target on the stock. Raymond James reissued a "strong-buy" rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, Barclays raised their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

Insider Buying and Selling

In other news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

SBA Communications Price Performance

NASDAQ:SBAC traded down $1.58 during mid-day trading on Tuesday, hitting $229.48. 624,046 shares of the company's stock were exchanged, compared to its average volume of 890,999. SBA Communications Co. has a one year low of $187.06 and a one year high of $252.64. The business has a fifty day moving average price of $227.21 and a 200 day moving average price of $216.50. The company has a market cap of $24.66 billion, a PE ratio of 36.20, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors 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 1.93%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is currently 60.91%.

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.