QRG Capital Management Inc. Acquires 120 Shares of SBA Communications Co. (NASDAQ:SBAC)

QRG Capital Management Inc. increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,775 shares of the technology company’s stock after buying an additional 120 shares during the period. QRG Capital Management Inc.’s holdings in SBA Communications were worth $1,381,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after buying an additional 50 shares in the last quarter. Farther Finance Advisors LLC lifted its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the last quarter. Versant Capital Management Inc boosted its stake in 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 acquiring an additional 53 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in SBA Communications by 5.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after purchasing an additional 61 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in SBA Communications by 23.7% in the third quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock worth $82,000 after purchasing an additional 65 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $221.51 on Tuesday. The firm’s fifty day moving average is $204.17 and its two-hundred day moving average is $220.47. The firm has a market cap of $23.82 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.00%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

Insider Activity at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $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 available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, 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. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBAC. Wells Fargo & Company raised their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lowered their target price on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.07.

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.