By otakuyassine3@gmail.com 
PNC Financial Services Group Inc. grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC – Free Report) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,328 shares of the technology company’s stock after purchasing an additional 586 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SBA Communications were worth $3,735,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC boosted its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc boosted its position in SBA Communications by 17.3% during 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 during the period. Auxano Advisors LLC boosted its position in SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after purchasing an additional 54 shares during the period. Finally, Lake Street Advisors Group LLC boosted its position in SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after purchasing an additional 61 shares during the period. Institutional investors own 97.35% of the company’s stock.
SBA Communications Price Performance
Shares of SBAC opened at $214.56 on Friday. The firm’s 50 day simple moving average is $206.87 and its 200 day simple moving average is $220.44. The company has a market capitalization of $23.09 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.
SBA Communications Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.
Insider Activity at SBA Communications
In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the 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 transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays lowered their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average price target of $252.54.
View Our Latest Report on SBA Communications
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.
See Also
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