Lasalle Investment Management Securities LLC Buys 11,826 Shares of SBA Communications Co. (NASDAQ:SBAC)

Lasalle Investment Management Securities LLC lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 36.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,924 shares of the technology company’s stock after purchasing an additional 11,826 shares during the quarter. Lasalle Investment Management Securities LLC’s holdings in SBA Communications were worth $8,952,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Evermay Wealth Management LLC bought a new stake in SBA Communications during the fourth quarter worth about $27,000. Graney & King LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $29,000. Oakworth Capital Inc. increased its holdings in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group bought a new position in SBA Communications in the 4th quarter valued at $56,000. Finally, Versant Capital Management Inc boosted its stake in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Morgan Stanley assumed 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. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Finally, StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Friday. Six research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $251.92.

SBA Communications Stock Up 1.5 %

Shares of NASDAQ SBAC opened at $229.06 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 0.74 and a beta of 0.83. The company’s fifty day moving average is $217.30 and its 200-day moving average is $216.98.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications’s dividend payout ratio is 63.98%.

Insider Activity

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm’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 trade represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company 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.