Vestcor Inc Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Vestcor Inc lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,849 shares of the technology company’s stock after buying an additional 1,148 shares during the quarter. Vestcor Inc’s holdings in SBA Communications were worth $7,714,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the 4th quarter valued at about $27,000. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the period. Oakworth Capital Inc. raised its holdings in shares of 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 buying an additional 144 shares during the period. Finally, CKW Financial Group purchased a new stake in shares of SBA Communications during the 4th quarter valued at about $56,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Down 1.8 %

Shares of NASDAQ SBAC opened at $216.48 on Thursday. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The stock’s 50 day simple moving average is $206.59 and its 200 day simple moving average is $220.49.

SBA Communications Increases Dividend

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

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of recent analyst reports. JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. 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 note on Wednesday, February 26th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Barclays lowered their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five 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 company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $252.54.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the firm’s 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 sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction 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 sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.