10,856 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,856 shares of the technology company’s stock, valued at approximately $2,212,000.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in SBA Communications by 15.6% during the third quarter. Cerity Partners LLC now owns 17,597 shares of the technology company’s stock worth $4,236,000 after acquiring an additional 2,376 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of SBA Communications by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 87,054 shares of the technology company’s stock worth $20,954,000 after purchasing an additional 1,539 shares during the period. FMR LLC raised its stake in shares of SBA Communications by 18.1% during the 3rd quarter. FMR LLC now owns 387,967 shares of the technology company’s stock worth $93,384,000 after purchasing an additional 59,368 shares during the period. Townsquare Capital LLC boosted its holdings in shares of SBA Communications by 36.2% in the 3rd quarter. Townsquare Capital LLC now owns 1,867 shares of the technology company’s stock worth $449,000 after buying an additional 496 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in SBA Communications by 25.6% during the third quarter. Public Sector Pension Investment Board now owns 18,732 shares of the technology company’s stock valued at $4,509,000 after buying an additional 3,820 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.2 %

Shares of NASDAQ:SBAC opened at $216.84 on Friday. The company has a 50 day moving average of $211.31 and a 200 day moving average of $219.36. The stock has a market cap of $23.34 billion, a P/E ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.05%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is presently 63.98%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBAC. Royal Bank of Canada reiterated 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 upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Barclays boosted their target price on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $252.85.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

SBA Communications 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.