Avenir Corp Has $13.46 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Avenir Corp lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,045 shares of the technology company’s stock after buying an additional 11,014 shares during the quarter. SBA Communications comprises approximately 1.4% of Avenir Corp’s holdings, making the stock its 18th biggest position. Avenir Corp owned approximately 0.06% of SBA Communications worth $13,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Oak Thistle LLC increased its position in SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the last quarter. Czech National Bank increased its holdings in shares of SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares during the last quarter. First Hawaiian Bank raised its stake in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. raised its stake in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock valued at $141,205,000 after purchasing an additional 226,878 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Morgan Stanley assumed coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price objective for the company. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. Finally, JMP Securities began coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.92.

SBA Communications Trading Up 0.4 %

Shares of SBA Communications stock opened at $225.67 on Thursday. The company has a 50 day moving average of $216.45 and a 200-day moving average of $217.32. The company has a market cap of $24.29 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the firm’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 directly owns 6,079 shares of the company’s stock, 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 filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

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.