Prestige Wealth Management Group LLC Has $339,000 Holdings in SBA Communications Co. (NASDAQ:SBAC)

Prestige Wealth Management Group LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,665 shares of the technology company’s stock after acquiring an additional 146 shares during the period. Prestige Wealth Management Group LLC’s holdings in SBA Communications were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. State Street Corp grew its holdings in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. grew its stake in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 8.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after buying an additional 142,054 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after purchasing an additional 565,137 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after acquiring an additional 38,725 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Down 1.3 %

Shares of SBAC opened at $218.69 on Tuesday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company’s fifty day moving average is $210.06 and its 200-day moving average is $219.90. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SBAC. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. Finally, Barclays increased their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.