Los Angeles Capital Management LLC Has $23.65 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Los Angeles Capital Management LLC grew its position in SBA Communications Co. (NASDAQ:SBAC) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,021 shares of the technology company’s stock after buying an additional 25,621 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.11% of SBA Communications worth $23,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FourThought Financial Partners LLC bought a new position in SBA Communications during the fourth quarter valued at approximately $375,000. Bank of New York Mellon Corp raised its position in SBA Communications by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 736,183 shares of the technology company’s stock valued at $150,034,000 after acquiring an additional 61,671 shares in the last quarter. Skylands Capital LLC raised its position in SBA Communications by 66.0% during the fourth quarter. Skylands Capital LLC now owns 69,220 shares of the technology company’s stock valued at $14,107,000 after acquiring an additional 27,510 shares in the last quarter. Edge Capital Group LLC bought a new position in SBA Communications during the fourth quarter valued at approximately $2,214,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in SBA Communications by 16.9% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,518 shares of the technology company’s stock valued at $4,793,000 after acquiring an additional 3,400 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent research reports. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday. Wells Fargo & Company dropped their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen lifted their price target on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.00.

SBA Communications Price Performance

Shares of SBAC stock opened at $219.17 on Wednesday. The stock has a market cap of $23.57 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The stock has a 50-day moving average of $202.83 and a 200-day moving average of $220.43. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications’s payout ratio is currently 61.83%.

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.