Sherman Asset Management Inc. Acquires Shares of 357 SBA Communications Co. (NASDAQ:SBAC)

Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 357 shares of the technology company’s stock, valued at approximately $73,000.

Other institutional investors have also added to or reduced their stakes in the company. Oak Thistle LLC lifted its holdings in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares in the last quarter. Czech National Bank lifted its holdings in shares of SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after buying an additional 249,610 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after buying an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of SBA Communications by 135.5% in the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after buying an additional 241,916 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBAC shares. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Barclays decreased their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.07.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction 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 approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $217.90 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm’s 50 day simple moving average is $203.81 and its two-hundred day simple moving average is $220.40. The stock has a market capitalization of $23.43 billion, a P/E ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is 63.98%.

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.