SRN Advisors LLC Acquires Shares of 1,071 SBA Communications Co. (NASDAQ:SBAC)

SRN Advisors LLC acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,071 shares of the technology company’s stock, valued at approximately $218,000.

Other large investors have also recently made changes to their positions in the company. Oak Thistle LLC grew its holdings in SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after buying an additional 2,863 shares in the last quarter. Czech National Bank boosted its position in shares of SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after acquiring an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after purchasing an additional 249,610 shares in the last quarter. First Hawaiian Bank increased its position in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after purchasing an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in SBA Communications by 135.5% during the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Down 1.7 %

Shares of SBA Communications stock opened at $215.49 on Thursday. The stock’s fifty day moving average is $203.12 and its two-hundred day moving average is $220.39. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company has a market capitalization of $23.17 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, March 13th. 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 2.06%. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Buying and Selling

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

SBAC has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday. JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $253.07.

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.