CenterBook Partners LP Buys 2,091 Shares of SBA Communications Co. (NASDAQ:SBAC)

CenterBook Partners LP boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,544 shares of the technology company’s stock after buying an additional 2,091 shares during the quarter. CenterBook Partners LP’s holdings in SBA Communications were worth $2,353,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. EP Wealth Advisors LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $557,000. MML Investors Services LLC grew its holdings in SBA Communications by 5.3% during the third quarter. MML Investors Services LLC now owns 8,028 shares of the technology company’s stock worth $1,932,000 after purchasing an additional 407 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in SBA Communications by 4.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 31,011 shares of the technology company’s stock valued at $7,464,000 after buying an additional 1,343 shares during the period. Barclays PLC increased its holdings in shares of SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after acquiring an additional 273,237 shares during the last quarter. Finally, M&T Bank Corp boosted its position in SBA Communications by 11.1% during the third quarter. M&T Bank Corp now owns 4,440 shares of the technology company’s stock worth $1,069,000 after purchasing an additional 444 shares during the period. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Up 1.7 %

Shares of SBAC stock opened at $212.14 on Thursday. The firm has a market capitalization of $22.83 billion, a P/E ratio of 33.46, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock’s fifty day simple moving average is $214.51 and its 200 day simple moving average is $217.79.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.09%. 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%.

Wall Street Analyst Weigh In

SBAC has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Morgan Stanley assumed coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price target for the company. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.92.

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 sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

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.