Banco Santander S.A. Buys New Holdings in SBA Communications Co. (NASDAQ:SBAC)

Banco Santander S.A. purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,290 shares of the technology company’s stock, valued at approximately $263,000.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in SBA Communications in the 3rd quarter valued at $26,000. Evermay Wealth Management LLC bought a new position in SBA Communications during the fourth quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the third quarter valued at $35,000. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Finally, Oakworth Capital Inc. lifted its stake in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction 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 trade represents a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the company’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 completion of the transaction, the vice president now directly 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 disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $224.91 on Tuesday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The company’s 50 day simple moving average is $206.00 and its 200 day simple moving average is $220.56.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.54.

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.