Personal CFO Solutions LLC Raises Stake in SBA Communications Co. (NASDAQ:SBAC)

Personal CFO Solutions LLC lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,324 shares of the technology company’s stock after buying an additional 217 shares during the quarter. Personal CFO Solutions LLC’s holdings in SBA Communications were worth $474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SBAC. State Street Corp boosted its position in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after acquiring an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after buying an additional 38,725 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after buying an additional 700,791 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBAC has been the subject of several recent research reports. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Barclays reduced their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction 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 sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

SBA Communications Price Performance

NASDAQ SBAC opened at $223.73 on Monday. The business has a 50 day simple moving average of $205.57 and a 200 day simple moving average of $220.52. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a market capitalization of $24.06 billion, a P/E ratio of 35.29, a P/E/G ratio of 0.74 and a beta of 0.74.

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 given a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 1.98%. SBA Communications’s payout ratio is presently 63.98%.

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.