SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Hahn Capital Management LLC

Hahn Capital Management LLC grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 51.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,632 shares of the technology company’s stock after buying an additional 6,973 shares during the period. SBA Communications makes up 1.8% of Hahn Capital Management LLC’s holdings, making the stock its 25th biggest holding. Hahn Capital Management LLC’s holdings in SBA Communications were worth $4,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBAC. International Assets Investment Management LLC lifted its holdings in shares of SBA Communications by 219,537.5% during the third quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock worth $8,459,000 after purchasing an additional 35,126 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after purchasing an additional 64 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SBA Communications by 26.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,724 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 2,232 shares during the period. abrdn plc lifted its holdings in shares of SBA Communications by 61.5% during the third quarter. abrdn plc now owns 107,303 shares of the technology company’s stock worth $25,803,000 after purchasing an additional 40,849 shares during the period. Finally, Integrated Advisors Network LLC acquired a new stake in shares of SBA Communications during the third quarter worth about $620,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $218.20 on Friday. The stock has a market capitalization of $23.46 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The business has a 50 day simple moving average of $203.52 and a 200-day simple moving average of $220.38.

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. The ex-dividend date is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. SBA Communications’s payout ratio is 63.98%.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research reports. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $253.07.

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.