Hahn Capital Management LLC Buys 6,973 Shares of SBA Communications Co. (NASDAQ:SBAC)

Hahn Capital Management LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 51.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,632 shares of the technology company’s stock after buying an additional 6,973 shares during the quarter. SBA Communications comprises approximately 1.8% of Hahn Capital Management LLC’s holdings, making the stock its 25th largest holding. Hahn Capital Management LLC’s holdings in SBA Communications were worth $4,205,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in SBA Communications by 219,537.5% in the third quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock worth $8,459,000 after purchasing an additional 35,126 shares during the period. Assenagon Asset Management S.A. increased its stake in SBA Communications by 1.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after purchasing an additional 64 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in SBA Communications by 26.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,724 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 2,232 shares during the period. abrdn plc increased its stake in SBA Communications by 61.5% in the third quarter. abrdn plc now owns 107,303 shares of the technology company’s stock worth $25,803,000 after purchasing an additional 40,849 shares during the period. Finally, Integrated Advisors Network LLC purchased a new stake in SBA Communications in the third quarter worth $620,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

SBAC opened at $218.20 on Friday. The business’s 50-day moving average is $203.52 and its two-hundred day moving average is $220.38. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm has a market capitalization of $23.46 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.03%. The ex-dividend date is 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%.

Analysts Set New Price Targets

A number of analysts have weighed in on SBAC shares. 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. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Wells Fargo & Company increased their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $253.07.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % 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, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.