Toronto Dominion Bank Acquires 4,330 Shares of SBA Communications Co. (NASDAQ:SBAC)

Toronto Dominion Bank increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,763 shares of the technology company’s stock after acquiring an additional 4,330 shares during the quarter. Toronto Dominion Bank owned about 0.06% of SBA Communications worth $14,014,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SBAC. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter worth about $27,000. Graney & King LLC bought a new position in SBA Communications during the fourth quarter valued at about $29,000. Oakworth Capital Inc. raised its holdings in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group bought a new stake in shares of SBA Communications in the 4th quarter worth approximately $56,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of SBA Communications in the 4th quarter worth approximately $73,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $235.51 on Tuesday. The stock’s fifty day moving average is $224.85 and its 200-day moving average is $215.90. SBA Communications Co. has a 52 week low of $185.44 and a 52 week high of $252.64. The stock has a market capitalization of $25.34 billion, a PE ratio of 37.15, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications’s payout ratio is presently 60.91%.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. 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 note on Tuesday, April 29th. Bank of America began coverage on shares of SBA Communications in a research report on Monday. They set a “buy” rating and a $260.00 target price on the stock. JMP Securities increased their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Six equities research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.93.

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.