3,500 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,500 shares of the technology company’s stock, valued at approximately $713,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the fourth quarter worth $27,000. Graney & King LLC purchased a new stake in shares of SBA Communications in the 4th quarter worth about $29,000. Oakworth Capital Inc. lifted its position in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group purchased a new stake in SBA Communications in the fourth quarter worth about $56,000. Finally, Sherman Asset Management Inc. bought a new position in shares of SBA Communications during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the 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 transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. 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 report on Wednesday, February 26th. Morgan Stanley assumed coverage on SBA Communications in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 target price on the stock. Barclays lifted their price target on SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 29th. Finally, Citigroup increased their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.38.

SBA Communications Stock Performance

SBAC opened at $239.66 on Monday. The company’s 50-day simple moving average is $223.82 and its two-hundred day simple moving average is $216.07. SBA Communications Co. has a 52-week low of $185.44 and a 52-week high of $252.64. The stock has a market capitalization of $25.79 billion, a P/E ratio of 37.80, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio is currently 60.91%.

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.