SBA Communications Co. (NASDAQ:SBAC) Position Boosted by Stevens Capital Management LP

Stevens Capital Management LP increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 516.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,445 shares of the technology company’s stock after purchasing an additional 7,913 shares during the quarter. SBA Communications comprises about 0.8% of Stevens Capital Management LP’s portfolio, making the stock its 28th biggest holding. Stevens Capital Management LP’s holdings in SBA Communications were worth $1,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC grew its holdings in SBA Communications by 76.1% in the 4th 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 boosted its stake in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in SBA Communications by 14,529.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after purchasing an additional 249,610 shares in the last quarter. First Hawaiian Bank boosted its stake in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Up 0.3 %

SBAC opened at $221.64 on Friday. The stock has a fifty day moving average of $209.59 and a 200-day moving average of $220.10. The firm has a market capitalization of $23.85 billion, a P/E ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. 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 target for the company. Barclays increased their price target on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised 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. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications 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.