Proficio Capital Partners LLC Acquires New Shares in SBA Communications Co. (NASDAQ:SBAC)

Proficio Capital Partners LLC acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 63,178 shares of the technology company’s stock, valued at approximately $12,876,000. Proficio Capital Partners LLC owned about 0.06% of SBA Communications at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after acquiring an additional 81,566 shares during the period. JPMorgan Chase & Co. lifted its holdings in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after acquiring an additional 605,872 shares during the period. Victory Capital Management Inc. lifted its holdings in SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after acquiring an additional 565,137 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after acquiring an additional 700,791 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

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 transaction 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 approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the firm’s 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 sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $218.23 on Friday. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The stock has a 50 day moving average price of $207.20 and a 200-day moving average price of $220.32. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Analyst Ratings Changes

SBAC has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Wells Fargo & Company increased 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. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Finally, 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 for the company. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.54.

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.