Franklin Resources Inc. Has $23.42 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Franklin Resources Inc. lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,927 shares of the technology company’s stock after purchasing an additional 12,645 shares during the period. Franklin Resources Inc. owned 0.11% of SBA Communications worth $23,422,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter worth about $27,000. Graney & King LLC bought a new position in shares of SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. lifted its stake in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group bought a new stake in SBA Communications in the fourth quarter valued at approximately $56,000. Finally, Versant Capital Management Inc increased its position in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 4.7 %

SBA Communications stock opened at $219.91 on Monday. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The firm’s fifty day moving average price is $213.48 and its two-hundred day moving average price is $218.48. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

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

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the firm’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 transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SBAC shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Morgan Stanley began coverage on SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.92.

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.