FourThought Financial Partners LLC Invests $375,000 in SBA Communications Co. (NASDAQ:SBAC)

FourThought Financial Partners LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,840 shares of the technology company’s stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc lifted its stake in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of SBA Communications by 1.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after purchasing an additional 64 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of SBA Communications by 23.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC stock opened at $219.17 on Wednesday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The business has a fifty day moving average price of $202.83 and a 200-day moving average price of $220.43. The stock has a market capitalization of $23.57 billion, a P/E ratio of 34.57, a P/E/G ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 61.83%.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on 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 owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of research analyst reports. TD Cowen raised their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company lowered their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Barclays lowered their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Raymond James lifted their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.00.

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.