Los Angeles Capital Management LLC Has $23.65 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Los Angeles Capital Management LLC boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 28.3% in the fourth quarter, Holdings Channel reports. The firm owned 116,021 shares of the technology company’s stock after purchasing an additional 25,621 shares during the quarter. Los Angeles Capital Management LLC’s holdings in SBA Communications were worth $23,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Exchange Traded Concepts LLC grew its position in SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after acquiring an additional 50 shares during the last quarter. Farther Finance Advisors LLC grew its position in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the last quarter. Versant Capital Management Inc grew its position in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares during the last quarter. Assenagon Asset Management S.A. grew its position in SBA Communications by 1.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 64 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in SBA Communications by 23.7% in the third quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on SBAC. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James boosted their price target on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Barclays dropped their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Five investment 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 stock. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $252.00.

SBA Communications Stock Up 3.0 %

Shares of NASDAQ:SBAC opened at $219.17 on Wednesday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock’s 50 day moving average is $202.83 and its 200-day moving average is $220.43. The firm has a market capitalization of $23.57 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 61.83%.

About SBA Communications

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.