ProShare Advisors LLC Purchases 528 Shares of SBA Communications Co. (NASDAQ:SBAC)

ProShare Advisors LLC increased its position in SBA Communications Co. (NASDAQ:SBAC) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,611 shares of the technology company’s stock after buying an additional 528 shares during the quarter. ProShare Advisors LLC’s holdings in SBA Communications were worth $5,627,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after buying an additional 50 shares in the last quarter. Auxano Advisors LLC raised its holdings in shares of SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after acquiring an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP lifted its position in SBA Communications by 0.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company’s stock valued at $1,577,000 after acquiring an additional 57 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after purchasing an additional 61 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in SBA Communications by 1.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock worth $1,011,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In other news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director now owns 10,522 shares in the company, valued at $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred 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 directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Morgan Stanley initiated coverage on SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price objective on the stock. 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. Barclays increased their target price on shares of SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a report on Tuesday, April 29th. Finally, BMO Capital Markets boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.38.

SBA Communications Stock Performance

Shares of SBAC stock opened at $233.08 on Monday. The firm has a market cap of $25.08 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 52 week low of $185.44 and a 52 week high of $252.64. The firm’s 50-day simple moving average is $224.46 and its two-hundred day simple moving average is $215.83.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.90%. SBA Communications’s payout ratio is currently 60.91%.

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.