Frank Rimerman Advisors LLC Grows Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Frank Rimerman Advisors LLC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,361 shares of the technology company’s stock after buying an additional 197 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in SBA Communications were worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Janney Montgomery Scott LLC raised its position in SBA Communications by 59.7% in the third quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock valued at $973,000 after purchasing an additional 1,511 shares during the period. Assetmark Inc. raised its position in SBA Communications by 4,633.3% in the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock valued at $103,000 after purchasing an additional 417 shares during the period. Metis Global Partners LLC raised its position in SBA Communications by 1.2% in the third quarter. Metis Global Partners LLC now owns 5,527 shares of the technology company’s stock valued at $1,330,000 after purchasing an additional 66 shares during the period. CIBC Asset Management Inc raised its position in SBA Communications by 8.3% in the third quarter. CIBC Asset Management Inc now owns 15,673 shares of the technology company’s stock valued at $3,772,000 after purchasing an additional 1,202 shares during the period. Finally, Empowered Funds LLC increased its position in shares of SBA Communications by 346.4% during the third quarter. Empowered Funds LLC now owns 7,883 shares of the technology company’s stock worth $1,897,000 after acquiring an additional 6,117 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company’s stock, 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.

SBA Communications Price Performance

NASDAQ SBAC opened at $218.23 on Monday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company has a market capitalization of $23.48 billion, a PE ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74. The company has a fifty day moving average of $207.20 and a two-hundred day moving average of $220.27.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is currently 63.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBAC. Wells Fargo & Company upped their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $252.54.

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.