Janus Henderson Group PLC Buys 9,688 Shares of SBA Communications Co. (NASDAQ:SBAC)

Janus Henderson Group PLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,792 shares of the technology company's stock after buying an additional 9,688 shares during the period. Janus Henderson Group PLC owned 0.17% of SBA Communications worth $37,260,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of SBA Communications by 23.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after buying an additional 246 shares in the last quarter. Oak Thistle LLC lifted its stake in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after acquiring an additional 2,863 shares in the last quarter. Czech National Bank lifted its stake in shares of SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after acquiring an additional 1,421 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after purchasing an additional 38,725 shares during the last quarter. Finally, NEOS Investment Management LLC grew its stake in SBA Communications by 29.3% during the 4th quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock valued at $1,118,000 after purchasing an additional 1,243 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBAC has been the topic of a number of recent analyst reports. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Citigroup upped their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Raymond James reiterated a "strong-buy" rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Finally, StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications Stock Performance

Shares of SBAC stock traded down $1.58 during mid-day trading on Tuesday, reaching $233.93. The company's stock had a trading volume of 141,205 shares, compared to its average volume of 897,315. The firm's 50-day moving average is $224.85 and its two-hundred day moving average is $215.90. The company has a market cap of $25.17 billion, a P/E ratio of 36.99, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64.

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. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.90%. SBA Communications's dividend payout ratio is currently 60.91%.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were 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 directly owns 6,079 shares of the company's stock, valued at $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 available at this hyperlink. Also, 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 sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.