United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,700 shares of the technology company’s stock, valued at approximately $754,000.

Several other hedge funds have also recently modified their holdings of SBAC. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter valued at approximately $27,000. Graney & King LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at approximately $29,000. Oakworth Capital Inc. grew its position 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 valued at $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter worth approximately $56,000. Finally, Versant Capital Management Inc lifted its holdings in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 2.0 %

Shares of SBA Communications stock opened at $214.31 on Wednesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a 50 day moving average price of $210.45 and a two-hundred day moving average price of $219.73. The stock has a market capitalization of $23.06 billion, a P/E ratio of 33.80, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.07%. 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 is currently 63.98%.

Analyst Ratings Changes

Several brokerages have issued reports on SBAC. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, Barclays increased their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by 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.