SBA Communications Co. (NASDAQ:SBAC) Position Lifted by GRS Advisors LLC

GRS Advisors LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,808 shares of the technology company's stock after purchasing an additional 6,092 shares during the period. SBA Communications makes up 7.2% of GRS Advisors LLC's holdings, making the stock its biggest holding. GRS Advisors LLC owned 0.33% of SBA Communications worth $73,125,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SBAC. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications during the fourth quarter worth $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. boosted its stake in shares of 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 purchasing an additional 144 shares during the period. CKW Financial Group acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $56,000. Finally, Sherman Asset Management Inc. purchased a new stake in SBA Communications during the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent research reports. JMP Securities upped their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Citigroup increased their price target on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Barclays lifted their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $252.38.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $239.66 on Friday. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64. The company has a 50-day simple moving average of $223.82 and a 200-day simple moving average of $216.47. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders 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 dividend yield of 1.85%. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Insider Activity

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the director now owns 10,522 shares in the company, valued at $2,531,487.98. The trade was 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 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.

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