SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Jackson Square Partners LLC

Jackson Square Partners LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 24.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,678 shares of the technology company’s stock after acquiring an additional 5,052 shares during the period. Jackson Square Partners LLC’s holdings in SBA Communications were worth $5,233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at $27,000. Oakworth Capital Inc. boosted its position in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after buying an additional 144 shares during the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $56,000. Versant Capital Management Inc increased its position in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares during the last quarter. Finally, Sherman Asset Management Inc. acquired a new position in shares of SBA Communications in the fourth quarter worth about $73,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBAC shares. Wells Fargo & Company lifted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Barclays boosted their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Stock Down 1.3 %

Shares of NASDAQ SBAC opened at $218.69 on Tuesday. The firm’s 50-day simple moving average is $210.06 and its 200 day simple moving average is $219.90. The stock has a market cap of $23.53 billion, a P/E ratio of 34.49, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

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.