Teacher Retirement System of Texas Acquires New Stake in SBA Communications Co. (NASDAQ:SBAC)

Teacher Retirement System of Texas bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,006 shares of the technology company’s stock, valued at approximately $205,000.

Several other institutional investors also recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications in the fourth quarter worth $27,000. Oakworth Capital Inc. boosted its holdings in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group purchased a new position in SBA Communications in the fourth quarter valued at $56,000. Sherman Asset Management Inc. acquired a new position in SBA Communications during the 4th quarter worth $73,000. Finally, Versant Capital Management Inc increased its holdings in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

SBA Communications Stock Down 0.5 %

SBAC opened at $219.34 on Thursday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The business’s 50 day moving average is $212.38 and its two-hundred day moving average is $218.90. The firm has a market cap of $23.60 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Morgan Stanley started coverage on shares of SBA Communications in a research report on Tuesday. They issued an “equal weight” rating and a $240.00 price objective on the stock. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $251.92.

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.