SBA Communications Co. (NASDAQ:SBAC) Stock Position Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1,101.1% during the 4th quarter, HoldingsChannel reports. The firm owned 1,093 shares of the technology company’s stock after buying an additional 1,002 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in SBA Communications were worth $223,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SBAC. Wealthfront Advisers LLC grew its holdings in shares of SBA Communications by 23,553.0% during the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock valued at $229,648,000 after buying an additional 1,122,064 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares during the period. JPMorgan Chase & Co. grew its stake in SBA Communications by 16.6% during 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 acquiring an additional 605,872 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares during the period. Finally, KBC Group NV lifted its position in shares of SBA Communications by 212.3% in the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock worth $83,562,000 after purchasing an additional 278,737 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBAC has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities initiated coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Finally, Wells Fargo & Company increased 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 note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.54.

SBA Communications Trading Up 1.7 %

Shares of SBAC stock opened at $218.23 on Monday. The company has a market capitalization of $23.48 billion, a P/E ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a 50 day moving average of $207.20 and a two-hundred day moving average of $220.27.

SBA Communications Increases Dividend

The firm 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 dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

Insider Buying and Selling 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 stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.