SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Point72 Europe London LLP

Point72 Europe London LLP increased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 132.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 104,427 shares of the technology company's stock after buying an additional 59,527 shares during the period. SBA Communications comprises approximately 1.2% of Point72 Europe London LLP's holdings, making the stock its 24th biggest position. Point72 Europe London LLP owned 0.10% of SBA Communications worth $21,282,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the fourth quarter valued at $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the 4th quarter worth about $29,000. Oakworth Capital Inc. lifted its position in SBA Communications by 161.8% in the 4th 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 last quarter. CKW Financial Group acquired a new position in SBA Communications during the 4th quarter valued at about $56,000. Finally, Sherman Asset Management Inc. bought a new position in SBA Communications in the 4th quarter worth about $73,000. Institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBAC. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Morgan Stanley began coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price on the stock. Barclays boosted their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. BMO Capital Markets lifted their price objective on shares of 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, Raymond James reaffirmed a "strong-buy" rating and issued a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $252.38.

Insider Activity at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company'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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The shares were 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 $1,362,790.22. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.92% of the company's stock.

SBA Communications Trading Down 1.4%

Shares of NASDAQ SBAC opened at $222.73 on Thursday. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64. The firm has a 50-day moving average of $224.13 and a two-hundred day moving average of $216.10. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio is presently 60.91%.

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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