SBA Communications Co. (NASDAQ:SBAC) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,387 shares of the technology company’s stock after acquiring an additional 2,035 shares during the period. O Shaughnessy Asset Management LLC’s holdings in SBA Communications were worth $1,505,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SBAC. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the 4th quarter valued at $27,000. Graney & King LLC purchased a new stake in SBA Communications during the fourth quarter valued at about $29,000. Oakworth Capital Inc. increased its stake in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications in the 4th quarter worth about $56,000. Finally, Sherman Asset Management Inc. acquired a new position in shares of SBA Communications in the 4th quarter valued at about $73,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley assumed coverage on SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price target for the company. Finally, JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.92.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the business’s 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 of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Performance

Shares of SBAC opened at $219.91 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a 50-day moving average price of $213.48 and a 200 day moving average price of $218.63. The company has a market capitalization of $23.67 billion, a P/E ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, March 13th. This is a positive change 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.