SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 91.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,058 shares of the technology company's stock after purchasing an additional 26,292 shares during the period. Quantinno Capital Management LP owned approximately 0.05% of SBA Communications worth $11,221,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in shares of SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after acquiring an additional 50 shares in the last quarter. Auxano Advisors LLC grew its stake in shares of SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after acquiring an additional 54 shares in the last quarter. DoubleLine ETF Adviser LP grew its stake in shares of SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after acquiring an additional 57 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after acquiring an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of SBA Communications by 1.3% during the fourth 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 in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% 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 Stock Performance

SBA Communications stock opened at $222.73 on Thursday. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64. The firm's 50 day moving average price is $224.13 and its two-hundred day moving average price is $216.10.

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 dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup lifted their price target on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Barclays lifted their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. JMP Securities lifted their price target on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $252.38.

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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