SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Lbp Am Sa

Lbp Am Sa boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,032 shares of the technology company’s stock after buying an additional 15,884 shares during the period. Lbp Am Sa owned approximately 0.09% of SBA Communications worth $18,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wealthfront Advisers LLC grew its stake in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock valued at $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. JPMorgan Chase & Co. grew its stake in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Victory Capital Management Inc. grew its stake in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares during the last quarter. Finally, KBC Group NV grew its stake in SBA Communications by 212.3% during the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after purchasing an additional 278,737 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was 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 $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 0.9 %

Shares of SBAC stock opened at $214.56 on Friday. The company has a market capitalization of $23.09 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.74 and a beta of 0.74. The business’s 50 day moving average is $206.87 and its two-hundred day moving average is $220.44. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is presently 63.98%.

Analyst Ratings Changes

Several research firms have weighed in on SBAC. Barclays dropped their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five research 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 stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $252.54.

About SBA Communications

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.