Korea Investment CORP Acquires 28,200 Shares of SBA Communications Co. (NASDAQ:SBAC)

Korea Investment CORP increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 41.1% during the 4th quarter, HoldingsChannel reports. The fund owned 96,791 shares of the technology company’s stock after buying an additional 28,200 shares during the period. Korea Investment CORP’s holdings in SBA Communications were worth $19,726,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Oak Thistle LLC increased its position in SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after buying an additional 2,863 shares in the last quarter. Czech National Bank increased its holdings in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after acquiring an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of SBA Communications by 14,529.1% in 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 purchasing an additional 249,610 shares during the last quarter. First Hawaiian Bank boosted its stake in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SBAC shares. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. 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. Finally, Wells Fargo & Company boosted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Stock Performance

NASDAQ SBAC opened at $216.84 on Friday. The business’s fifty day moving average is $211.31 and its 200 day moving average is $219.36. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The company has a market capitalization of $23.34 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $1.11 per share. The ex-dividend date was Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. SBA Communications’s payout ratio is 63.98%.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.