Allianz SE Buys Shares of 4,468 SBA Communications Co. (NASDAQ:SBAC)

Allianz SE purchased a new stake in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,468 shares of the technology company’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Exchange Traded Concepts LLC grew its holdings in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after buying an additional 50 shares during the period. Versant Capital Management Inc increased its holdings in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares in the last quarter. Auxano Advisors LLC raised its position in shares of SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after purchasing an additional 54 shares during the period. Lake Street Advisors Group LLC lifted its holdings in shares of SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in shares of SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock valued at $1,011,000 after purchasing an additional 64 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 0.2 %

NASDAQ:SBAC opened at $216.84 on Monday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market capitalization of $23.34 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74. The stock’s 50 day moving average price is $211.31 and its two-hundred day moving average price is $219.20.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.05%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Wall Street Analyst Weigh In

SBAC has been the topic of several research analyst reports. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company increased 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. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Finally, JMP Securities assumed coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.85.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

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.