SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Vestcor Inc

Vestcor Inc increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,849 shares of the technology company’s stock after acquiring an additional 1,148 shares during the period. Vestcor Inc’s holdings in SBA Communications were worth $7,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Farther Finance Advisors LLC grew its holdings in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares during the period. Janney Montgomery Scott LLC grew its holdings in SBA Communications by 59.7% in the third quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock valued at $973,000 after purchasing an additional 1,511 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in SBA Communications in the third quarter valued at $331,000. Assetmark Inc. grew its holdings in SBA Communications by 4,633.3% in the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock valued at $103,000 after purchasing an additional 417 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in SBA Communications in the third quarter valued at $26,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBAC. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays lowered their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, 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 report on Wednesday, February 26th. Five 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, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

SBA Communications Trading Down 1.8 %

NASDAQ SBAC opened at $216.48 on Thursday. The business’s 50-day moving average price is $206.59 and its 200 day moving average price is $220.49. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market capitalization of $23.30 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.05%. SBA Communications’s dividend payout ratio is 63.98%.

Insider Buying and Selling

In other news, 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 trade represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company 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.