Blueshift Asset Management LLC Acquires Shares of 1,192 SBA Communications Co. (NASDAQ:SBAC)

Blueshift Asset Management LLC purchased a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,192 shares of the technology company’s stock, valued at approximately $243,000.

A number of other large investors also recently bought and sold shares of SBAC. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at approximately $27,000. Oakworth Capital Inc. increased its holdings in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications in the fourth quarter worth about $56,000. Versant Capital Management Inc boosted its stake in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

SBA Communications Trading Up 0.3 %

SBAC stock opened at $221.64 on Friday. The business’s fifty day moving average price is $209.59 and its 200 day moving average price is $220.17. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a market capitalization of $23.85 billion, a PE ratio of 34.96, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SBAC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. 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 objective for the company. BMO Capital Markets reiterated 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. Finally, Barclays raised their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.85.

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.