Vanguard Group Inc. Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Vanguard Group Inc. grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,398,651 shares of the technology company’s stock after purchasing an additional 3,084 shares during the quarter. Vanguard Group Inc. owned approximately 0.16% of SBA Communications worth $3,545,845,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after buying an additional 81,566 shares during the period. JPMorgan Chase & Co. raised its stake in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of SBA Communications by 8.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after purchasing an additional 142,054 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly 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 SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of analyst reports. BMO Capital Markets reissued 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. Barclays raised their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities assumed coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Trading Down 1.3 %

Shares of NASDAQ SBAC opened at $218.69 on Tuesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a market cap of $23.53 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The stock’s 50 day simple moving average is $210.06 and its 200 day simple moving average is $219.90.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

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.