SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 89.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,922 shares of the technology company's stock after buying an additional 2,795 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in SBA Communications were worth $1,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBAC. Exchange Traded Concepts LLC increased its stake in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after purchasing an additional 50 shares in the last quarter. Auxano Advisors LLC raised its stake in shares of SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after buying an additional 54 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after buying an additional 61 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after acquiring an additional 64 shares during the period. Finally, Torray Investment Partners LLC increased its holdings in SBA Communications by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company's stock worth $1,995,000 after acquiring an additional 67 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $239.66 on Friday. SBA Communications Co. has a fifty-two week low of $185.44 and a fifty-two week high of $252.64. The firm 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. The stock has a 50 day moving average of $223.82 and a 200 day moving average of $216.47.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.85%. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Insider Buying and Selling at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction 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 sale, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on SBAC shares. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Barclays boosted their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Morgan Stanley initiated coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. BMO Capital Markets increased their price objective on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. Finally, Citigroup lifted their target price 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. Six investment 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, SBA Communications currently has an average rating of "Moderate Buy" and a consensus target price of $252.38.

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.

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