Ninepoint Partners LP Purchases 1,128 Shares of SBA Communications Co. (NASDAQ:SBAC)

Ninepoint Partners LP lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 21.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,508 shares of the technology company’s stock after acquiring an additional 1,128 shares during the period. Ninepoint Partners LP’s holdings in SBA Communications were worth $1,326,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SBAC. Wealthfront Advisers LLC lifted its holdings in shares of SBA Communications by 23,553.0% in the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after acquiring an additional 1,122,064 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $213,353,000 after buying an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after buying an additional 605,872 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after buying an additional 565,137 shares in the last quarter. Finally, KBC Group NV lifted its holdings in SBA Communications by 212.3% during 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 in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.54.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joshua Koenig sold 2,209 shares of the business’s 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 sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 1.7 %

Shares of SBA Communications stock opened at $218.23 on Friday. The firm’s 50 day moving average price is $207.20 and its 200-day moving average price is $220.32. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a market cap of $23.48 billion, a P/E ratio of 34.42, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

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

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.