Lake Street Advisors Group LLC Grows Position in SBA Communications Co. (NASDAQ:SBAC)

Lake Street Advisors Group LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,105 shares of the technology company’s stock after buying an additional 61 shares during the quarter. Lake Street Advisors Group LLC’s holdings in SBA Communications were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SBAC. Victory Capital Management Inc. lifted its stake in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares during the period. JPMorgan Chase & Co. lifted its stake in 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 period. KBC Group NV lifted its stake in SBA Communications by 212.3% in the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock worth $83,562,000 after acquiring an additional 278,737 shares during the period. Finally, Barclays PLC lifted its stake in SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after acquiring an additional 273,237 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company raised their price objective on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $253.07.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $217.90 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The business has a fifty day moving average price of $203.81 and a 200-day moving average price of $220.39. The company has a market capitalization of $23.43 billion, a PE ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.04%. SBA Communications’s dividend payout ratio (DPR) 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.