BI Asset Management Fondsmaeglerselskab A S Buys 1,558 Shares of SBA Communications Co. (NASDAQ:SBAC)

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,855 shares of the technology company’s stock after acquiring an additional 1,558 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in SBA Communications were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Evermay Wealth Management LLC bought a new stake in SBA Communications during the 4th quarter valued at $27,000. Graney & King LLC bought a new position in shares of SBA Communications during the fourth quarter valued at about $29,000. Oakworth Capital Inc. boosted its holdings in shares of 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 purchasing an additional 144 shares during the period. CKW Financial Group bought a new stake in shares of SBA Communications in the fourth quarter worth about $56,000. Finally, Sherman Asset Management Inc. purchased a new position in SBA Communications during the 4th quarter valued at about $73,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBAC. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Friday. 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. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $251.92.

SBA Communications Stock Down 1.5 %

SBAC stock opened at $225.55 on Tuesday. The business has a 50 day moving average of $217.64 and a 200 day moving average of $216.75. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm has a market cap of $24.27 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. 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 currently 63.98%.

Insider Buying and Selling

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 stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

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.