Voya Investment Management LLC Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Voya Investment Management LLC raised its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,840 shares of the technology company's stock after buying an additional 2,431 shares during the quarter. Voya Investment Management LLC's holdings in SBA Communications were worth $9,546,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dodge & Cox grew its holdings in shares of SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the period. Geode Capital Management LLC increased its stake in shares of SBA Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock valued at $586,827,000 after buying an additional 71,023 shares during the period. Cohen & Steers Inc. raised its holdings in SBA Communications by 29.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock worth $383,762,000 after purchasing an additional 432,644 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in SBA Communications by 8.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock valued at $379,290,000 after buying an additional 142,054 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.92% of the company's stock.

SBA Communications Stock Up 0.5 %

Shares of SBA Communications stock traded up $1.22 during mid-day trading on Friday, hitting $241.96. The stock had a trading volume of 758,609 shares, compared to its average volume of 900,132. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64. The firm has a market cap of $26.04 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The firm has a 50-day moving average of $221.19 and a two-hundred day moving average of $216.71.

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 of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.84%. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. Morgan Stanley started coverage on SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective on the stock. StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. JMP Securities boosted their target price on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, Barclays boosted their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday. Six research 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.