NEOS Investment Management LLC Buys 1,243 Shares of SBA Communications Co. (NASDAQ:SBAC)

NEOS Investment Management LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 29.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,488 shares of the technology company’s stock after buying an additional 1,243 shares during the period. NEOS Investment Management LLC’s holdings in SBA Communications were worth $1,118,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBAC. Evermay Wealth Management LLC acquired a new position in SBA Communications in the 4th quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in SBA Communications during the fourth quarter worth $29,000. Oakworth Capital Inc. raised its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications in the 4th quarter valued at $56,000. Finally, Versant Capital Management Inc boosted its position in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Wells Fargo & Company increased their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.85.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 0.2 %

SBAC opened at $216.84 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a 50-day moving average price of $211.31 and a two-hundred day moving average price of $219.36. The stock has a market capitalization of $23.34 billion, a PE ratio of 34.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s 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.