1,290 Shares in SBA Communications Co. (NASDAQ:SBAC) Bought by Banco Santander S.A.

Banco Santander S.A. purchased a new stake in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,290 shares of the technology company’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Callan Family Office LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth $267,000. Candriam S.C.A. boosted its position in SBA Communications by 16.8% during the fourth quarter. Candriam S.C.A. now owns 12,378 shares of the technology company’s stock valued at $2,523,000 after acquiring an additional 1,776 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in SBA Communications during the 4th quarter worth about $20,765,000. Arizona State Retirement System raised its position in shares of SBA Communications by 1.3% in the 4th quarter. Arizona State Retirement System now owns 31,188 shares of the technology company’s stock worth $6,356,000 after acquiring an additional 406 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at about $12,876,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBAC. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Barclays decreased their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

SBA Communications Stock Up 0.5 %

Shares of NASDAQ:SBAC opened at $224.91 on Tuesday. The business’s 50 day moving average is $206.00 and its 200 day moving average is $220.56. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 35.47, a PEG 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. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s payout ratio is currently 63.98%.

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 dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value 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. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.