OFI Invest Asset Management Makes New $865,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

OFI Invest Asset Management bought a new stake in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,393 shares of the technology company’s stock, valued at approximately $865,000.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter valued at $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at $27,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications in the 3rd quarter valued at $35,000. Oakworth Capital Inc. raised its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $223.73 on Monday. The firm has a market cap 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 Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a fifty day moving average of $205.57 and a two-hundred day moving average of $220.52.

SBA Communications Increases Dividend

The firm 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 of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 1.98%. SBA Communications’s payout ratio is 63.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SBAC shares. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Barclays lowered their price target 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Five equities 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 company’s stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $252.54.

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.