27,935 Shares in SBA Communications Co. (NASDAQ:SBAC) Bought by Woodline Partners LP

Woodline Partners LP bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,935 shares of the technology company's stock, valued at approximately $5,693,000.

Other large investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC purchased a new position in SBA Communications during the fourth quarter worth about $27,000. Graney & King LLC purchased a new position in SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. lifted its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after buying an additional 144 shares during the period. CKW Financial Group purchased a new position in SBA Communications during the fourth quarter worth about $56,000. Finally, State of Wyoming lifted its position in SBA Communications by 75.8% during the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after buying an additional 119 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.1%

NASDAQ SBAC traded up $0.24 during mid-day trading on Thursday, reaching $229.27. 180,962 shares of the company's stock traded hands, compared to its average volume of 893,905. The company has a market cap of $24.64 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 0.74 and a beta of 0.83. The company has a fifty day simple moving average of $226.32 and a 200-day simple moving average of $216.31. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.94%. SBA Communications's payout ratio is 60.91%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent analyst reports. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Deutsche Bank Aktiengesellschaft downgraded SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a report on Tuesday, May 20th. Morgan Stanley assumed coverage on 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 raised their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research note 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 stock. According to data from MarketBeat.com, SBA Communications presently has an average rating of "Moderate Buy" and an average price target of $253.43.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm'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 value of $495,213.62. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

SBA Communications Company 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.