CenterBook Partners LP Purchases 2,091 Shares of SBA Communications Co. (NASDAQ:SBAC)

CenterBook Partners LP raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,544 shares of the technology company’s stock after purchasing an additional 2,091 shares during the quarter. CenterBook Partners LP’s holdings in SBA Communications were worth $2,353,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of SBA Communications in the 4th quarter worth about $20,765,000. APG Asset Management N.V. raised its stake in shares of SBA Communications by 52.9% in the fourth quarter. APG Asset Management N.V. now owns 96,875 shares of the technology company’s stock worth $19,066,000 after purchasing an additional 33,524 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of SBA Communications by 5.4% in the fourth quarter. Bank of Nova Scotia now owns 16,546 shares of the technology company’s stock valued at $3,373,000 after purchasing an additional 843 shares in the last quarter. FIL Ltd lifted its holdings in shares of SBA Communications by 1,133.8% in the fourth quarter. FIL Ltd now owns 16,089 shares of the technology company’s stock valued at $3,279,000 after purchasing an additional 14,785 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of SBA Communications by 81.9% during the fourth quarter. Cerity Partners LLC now owns 32,004 shares of the technology company’s stock valued at $6,925,000 after buying an additional 14,407 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SBAC. 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, March 21st. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Morgan Stanley started coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Five 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.92.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $212.14 on Thursday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock’s fifty day moving average price is $214.51 and its two-hundred day moving average price is $217.79. The firm has a market cap of $22.83 billion, a PE ratio of 33.46, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 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.