Point72 Europe London LLP Has $21.28 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Point72 Europe London LLP lifted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 132.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,427 shares of the technology company’s stock after buying an additional 59,527 shares during the period. SBA Communications comprises approximately 1.2% of Point72 Europe London LLP’s portfolio, making the stock its 24th biggest position. Point72 Europe London LLP’s holdings in SBA Communications were worth $21,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SBAC. Dodge & Cox lifted its position in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after buying an additional 5,722,740 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of SBA Communications by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock worth $586,827,000 after acquiring an additional 71,023 shares in the last quarter. Deutsche Bank AG boosted its position in SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock valued at $491,549,000 after purchasing an additional 134,624 shares during the last quarter. Finally, Cohen & Steers Inc. grew its stake in SBA Communications by 29.8% in the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company’s stock valued at $383,762,000 after purchasing an additional 432,644 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SBAC shares. Morgan Stanley started coverage on SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price target for the company. Wells Fargo & Company increased 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. JMP Securities raised their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 29th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.38.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Jack Langer sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

SBA Communications Trading Down 1.4%

Shares of SBA Communications stock opened at $222.73 on Thursday. The firm has a fifty day simple moving average of $224.13 and a 200-day simple moving average of $216.10. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio is 60.91%.

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.