O Shaughnessy Asset Management LLC Boosts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

O Shaughnessy Asset Management LLC raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 38.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,387 shares of the technology company’s stock after purchasing an additional 2,035 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in SBA Communications were worth $1,505,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in SBA Communications in the 4th quarter valued at $268,287,000. Wealthfront Advisers LLC boosted its holdings in shares of SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock valued at $229,648,000 after acquiring an additional 1,122,064 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SBA Communications by 16.6% during 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. Victory Capital Management Inc. raised its holdings in SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in SBA Communications by 39.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock valued at $224,328,000 after purchasing an additional 312,125 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $219.91 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 50 day moving average price of $213.48 and a 200 day moving average price of $218.63. The company has a market capitalization of $23.67 billion, a P/E ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SBAC shares. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. 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 research report on Wednesday, December 18th. Barclays upped their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued 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 $251.92.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

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.