Motley Fool Asset Management LLC Acquires 4,524 Shares of SBA Communications Co. (NASDAQ:SBAC)

Motley Fool Asset Management LLC grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,964 shares of the technology company’s stock after purchasing an additional 4,524 shares during the quarter. Motley Fool Asset Management LLC’s holdings in SBA Communications were worth $12,424,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SBAC. State Street Corp boosted its holdings in 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 purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after acquiring an additional 71,023 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock valued at $379,290,000 after acquiring an additional 142,054 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in SBA Communications by 46.5% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 0.5 %

SBAC opened at $219.34 on Thursday. The stock’s 50 day simple moving average is $212.38 and its 200-day simple moving average is $218.90. The stock has a market cap of $23.60 billion, a PE ratio of 34.60, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is 63.98%.

Analyst Ratings Changes

SBAC has been the topic of several analyst reports. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley began coverage on shares of SBA Communications in a research note on Tuesday. They issued an “equal weight” rating and a $240.00 target price on the stock. Barclays boosted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $251.92.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

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.