Arizona State Retirement System Increases Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Arizona State Retirement System raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,188 shares of the technology company’s stock after buying an additional 406 shares during the quarter. Arizona State Retirement System’s holdings in SBA Communications were worth $6,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter worth about $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter worth about $27,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications in the 3rd quarter worth about $35,000. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Oakworth Capital Inc. raised its position in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 2.3 %

SBAC stock opened at $223.73 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock has a market cap of $24.06 billion, a P/E ratio of 35.29, a PEG ratio of 0.74 and a beta of 0.74. The business’s 50-day moving average price is $205.57 and its 200-day moving average price is $220.50.

SBA Communications Increases Dividend

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

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SBAC shares. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.54.

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.