Meketa Capital LLC purchased a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,839 shares of the technology company's stock, valued at approximately $782,000. SBA Communications comprises 1.8% of Meketa Capital LLC's portfolio, making the stock its 23rd largest holding.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications during the 4th quarter worth approximately $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth $29,000. Oakworth Capital Inc. boosted its stake in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $73,000. Institutional investors own 97.35% of the company's stock.
SBA Communications Price Performance
Shares of SBA Communications stock opened at $229.67 on Tuesday. The business's 50 day simple moving average is $224.01 and its two-hundred day simple moving average is $215.99. The stock has a market capitalization of $24.72 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64.
SBA Communications Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.93%. SBA Communications's payout ratio is 60.91%.
Insider Buying and Selling
In other SBA Communications news, Director Jack Langer sold 5,000 shares of the stock in a transaction dated 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 transaction, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated Friday, March 7th. The stock was 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. The trade was a 26.65% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Barclays lifted their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. JMP Securities lifted their target price on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, Morgan Stanley assumed coverage on SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective for the company. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $252.38.
Check Out Our Latest Analysis on SBA Communications
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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