34,896 Shares in SBA Communications Co. (NASDAQ:SBAC) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, HoldingsChannel.com reports. The firm bought 34,896 shares of the technology company’s stock, valued at approximately $7,112,000.

A number of other large investors have also recently added to or reduced their stakes in SBAC. Oak Thistle LLC boosted its position in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank boosted its position in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of SBA Communications by 14,529.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after acquiring an additional 249,610 shares in the last quarter. First Hawaiian Bank grew its stake in shares of SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after acquiring an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of SBA Communications by 135.5% in the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $218.69 on Tuesday. The business has a fifty day simple moving average of $210.06 and a two-hundred day simple moving average of $219.90. The company has a market capitalization of $23.53 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

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 issued a $1.11 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

Analyst Upgrades and Downgrades

SBAC has been the subject of several recent research reports. Barclays increased their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday. JMP Securities began coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.85.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on 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. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.