SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 56.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,738 shares of the technology company’s stock after buying an additional 2,420 shares during the period. Captrust Financial Advisors’ holdings in SBA Communications were worth $1,373,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SBAC. Dodge & Cox increased its stake in SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after buying an additional 5,722,740 shares during the period. Norges Bank purchased a new stake in SBA Communications during the 4th quarter worth approximately $268,287,000. Wealthfront Advisers LLC increased its stake in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after buying an additional 1,122,064 shares during the period. JPMorgan Chase & Co. increased its stake in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares during the period. Finally, Victory Capital Management Inc. increased its stake in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after buying an additional 565,137 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price objective on the stock. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Tuesday, April 29th. Finally, Citigroup increased their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $252.38.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was 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 at this link. Also, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

SBA Communications Trading Down 1.4%

NASDAQ SBAC opened at $222.73 on Thursday. The company’s fifty day simple moving average is $224.13 and its 200-day simple moving average is $216.10. SBA Communications Co. has a 52 week low of $185.44 and a 52 week high of $252.64. The stock has a market cap of $23.97 billion, a P/E ratio of 35.13, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.99%. SBA Communications’s dividend payout ratio (DPR) is presently 60.91%.

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.