Assetmark Inc. Purchases 147 Shares of SBA Communications Co. (NASDAQ:SBAC)

Assetmark Inc. raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 573 shares of the technology company’s stock after purchasing an additional 147 shares during the period. Assetmark Inc.’s holdings in SBA Communications were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of SBA Communications by 16.6% in the 3rd 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 in the last quarter. Victory Capital Management Inc. raised its position in shares of SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after acquiring an additional 565,137 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after acquiring an additional 38,725 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated 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 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.

SBA Communications Stock Performance

SBA Communications stock opened at $218.23 on Friday. The business’s 50-day simple moving average is $207.20 and its two-hundred day simple moving average is $220.38. The company has a market cap of $23.48 billion, a PE ratio of 34.42, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two 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 paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is presently 63.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBAC. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Five equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.54.

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.