Graney & King LLC Invests $29,000 in SBA Communications Co. (NASDAQ:SBAC)

Graney & King LLC bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 140 shares of the technology company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth about $27,000. Oakworth Capital Inc. boosted its stake in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter worth approximately $56,000. Versant Capital Management Inc increased its stake in SBA Communications by 17.3% during 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. Finally, Sherman Asset Management Inc. purchased a new position in shares of SBA Communications in the fourth quarter worth $73,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SBAC. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.85.

Insider Buying and Selling

In other 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 owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

SBA Communications Trading Up 0.2 %

NASDAQ SBAC opened at $214.70 on Thursday. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 0.74 and a beta of 0.74. The stock has a 50-day moving average of $210.80 and a 200 day moving average of $219.70. SBA Communications Co. has a twelve month low of $183.64 and a twelve 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 given a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.07%. SBA Communications’s dividend payout ratio (DPR) is 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.