United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,700 shares of the technology company’s stock, valued at approximately $754,000.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp boosted its stake in SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after buying an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after purchasing an additional 142,054 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of SBA Communications by 46.5% during the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after buying an additional 38,725 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

SBA Communications Stock Down 2.0 %

Shares of SBAC stock opened at $214.31 on Wednesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market capitalization of $23.06 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The firm has a fifty day moving average of $210.45 and a 200-day moving average of $219.73.

SBA Communications Increases Dividend

The business also recently declared 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. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.07%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is presently 63.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SBAC shares. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on 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.