Prestige Wealth Management Group LLC Has $339,000 Holdings in SBA Communications Co. (NASDAQ:SBAC)

Prestige Wealth Management Group LLC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,665 shares of the technology company’s stock after buying an additional 146 shares during the period. Prestige Wealth Management Group LLC’s holdings in SBA Communications were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter valued at about $27,000. Oakworth Capital Inc. raised its stake in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications during the 4th quarter valued at $56,000. Sherman Asset Management Inc. acquired a new position in SBA Communications during the 4th quarter worth about $73,000. Finally, Versant Capital Management Inc lifted its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is owned by institutional investors.

Insider Transactions at SBA Communications

In other 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 value of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

NASDAQ:SBAC opened at $218.69 on Tuesday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a market capitalization of $23.53 billion, a P/E ratio of 34.49, a PEG ratio of 0.74 and a beta of 0.74. The company’s 50-day simple moving average is $210.06 and its 200 day simple moving average is $219.90.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. 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 2.03%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays boosted their target price on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

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.