SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 307,839 shares of the technology company's stock after acquiring an additional 56,511 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.29% of SBA Communications worth $62,738,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SBAC. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the 4th quarter worth $29,000. Oakworth Capital Inc. raised its holdings in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group acquired a new position in shares of SBA Communications during the 4th quarter valued at about $56,000. Finally, Versant Capital Management Inc grew its holdings in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBAC. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. Citigroup increased their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday. BMO Capital Markets lifted their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday. JMP Securities increased their price target on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Six investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $252.38.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by insiders.

SBA Communications Stock Down 1.1 %

SBA Communications stock opened at $240.74 on Friday. SBA Communications Co. has a 52-week low of $185.44 and a 52-week high of $252.64. The firm has a market cap of $25.91 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company's 50 day moving average is $221.19 and its two-hundred day moving average is $216.71.

SBA Communications Dividend Announcement

The business also recently announced 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 of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.84%. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

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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