SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Modera Wealth Management LLC

Modera Wealth Management LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 23.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,541 shares of the technology company’s stock after buying an additional 867 shares during the quarter. Modera Wealth Management LLC’s holdings in SBA Communications were worth $926,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after purchasing an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 700,791 shares during the period. JPMorgan Chase & Co. raised its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares in the last quarter. KBC Group NV lifted its holdings in shares of SBA Communications by 212.3% in the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after buying an additional 278,737 shares during the period. Finally, Barclays PLC lifted its holdings in shares of SBA Communications by 71.0% in the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock valued at $158,386,000 after buying an additional 273,237 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBAC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Barclays reduced their price objective 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. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $221.51 on Tuesday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a market cap of $23.82 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The business’s fifty day moving average price is $204.17 and its two-hundred day moving average price is $220.47.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.