Callan Family Office LLC Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Callan Family Office LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,310 shares of the technology company’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Farther Finance Advisors LLC increased its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in SBA Communications by 59.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock worth $973,000 after purchasing an additional 1,511 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of SBA Communications in the third quarter valued at about $35,000. CWA Asset Management Group LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $331,000. Finally, Assetmark Inc. increased its stake in shares of SBA Communications by 4,633.3% in the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock valued at $103,000 after buying an additional 417 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SBAC. JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Wells Fargo & Company increased their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.54.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on 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 directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % 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.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $224.91 on Tuesday. The business’s 50 day simple moving average is $206.00 and its two-hundred day simple moving average is $220.56. The firm has a market cap of $24.18 billion, a P/E ratio of 35.47, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 1.97%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is presently 63.98%.

SBA Communications 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.