Stevens Capital Management LP Boosts Stake in SBA Communications Co. (NASDAQ:SBAC)

Stevens Capital Management LP raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 516.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,445 shares of the technology company’s stock after acquiring an additional 7,913 shares during the period. SBA Communications makes up 0.8% of Stevens Capital Management LP’s portfolio, making the stock its 28th biggest position. Stevens Capital Management LP’s holdings in SBA Communications were worth $1,925,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the fourth quarter valued at about $27,000. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 161.8% in the fourth 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 period. CKW Financial Group purchased a new stake in shares of SBA Communications in the fourth quarter worth about $56,000. Sherman Asset Management Inc. purchased a new stake in shares of SBA Communications in the fourth quarter worth about $73,000. Finally, Versant Capital Management Inc boosted its position 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 buying an additional 53 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 0.3 %

Shares of NASDAQ SBAC opened at $221.64 on Friday. The stock’s 50 day moving average price is $209.59 and its two-hundred day moving average price is $220.10. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a market capitalization of $23.85 billion, a P/E ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74.

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 given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SBAC shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Barclays boosted their price target on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. 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 data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $252.85.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.