Wealthfront Advisers LLC Purchases 1,122,064 Shares of SBA Communications Co. (NASDAQ:SBAC)

Wealthfront Advisers LLC increased its position in SBA Communications Co. (NASDAQ:SBAC) by 23,553.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,126,828 shares of the technology company’s stock after buying an additional 1,122,064 shares during the quarter. Wealthfront Advisers LLC’s holdings in SBA Communications were worth $229,648,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBAC. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications in the 3rd quarter worth $26,000. Evermay Wealth Management LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications in the third quarter worth approximately $35,000. Oakworth Capital Inc. raised its stake in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 32.5% in the third 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 in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Barclays cut their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $252.54.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, 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 $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Trading Up 0.5 %

Shares of NASDAQ SBAC opened at $224.91 on Tuesday. The stock has a fifty day simple moving average of $206.00 and a two-hundred day simple moving average of $220.56. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a market cap of $24.18 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.97%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. 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.