Arizona State Retirement System Raises Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Arizona State Retirement System increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,188 shares of the technology company’s stock after purchasing an additional 406 shares during the quarter. Arizona State Retirement System’s holdings in SBA Communications were worth $6,356,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $26,000. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its position in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $223.73 on Friday. The stock has a market capitalization of $24.06 billion, a P/E ratio of 35.29, a price-to-earnings-growth 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. The business has a fifty day moving average price of $205.57 and a 200 day moving average price of $220.50.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. The ex-dividend date of this dividend 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 yield of 1.98%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

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 dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The shares were 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 owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBAC. JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their price target 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. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.