OFI Invest Asset Management Takes Position in SBA Communications Co. (NASDAQ:SBAC)

OFI Invest Asset Management bought a new stake in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,393 shares of the technology company’s stock, valued at approximately $865,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Personal CFO Solutions LLC grew its position in SBA Communications by 10.3% during the fourth quarter. Personal CFO Solutions LLC now owns 2,324 shares of the technology company’s stock worth $474,000 after buying an additional 217 shares during the period. PNC Financial Services Group Inc. grew its position in SBA Communications by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 18,328 shares of the technology company’s stock worth $3,735,000 after buying an additional 586 shares during the period. Banco Santander S.A. acquired a new position in SBA Communications during the fourth quarter worth about $263,000. Callan Family Office LLC acquired a new position in SBA Communications during the fourth quarter worth about $267,000. Finally, Candriam S.C.A. grew its position in SBA Communications by 16.8% during the fourth quarter. Candriam S.C.A. now owns 12,378 shares of the technology company’s stock worth $2,523,000 after buying an additional 1,776 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC opened at $223.73 on Monday. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 0.74 and a beta of 0.74. The company’s 50 day simple moving average is $205.57 and its 200 day simple moving average is $220.52. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 1.98%. SBA Communications’s dividend payout ratio is presently 63.98%.

Analyst Ratings Changes

SBAC has been the topic of several recent analyst reports. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Barclays lowered their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

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.