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

NBC Securities Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 1,575.0% during the 1st quarter, Holdings Channel reports. The firm owned 201 shares of the technology company’s stock after acquiring an additional 189 shares during the period. NBC Securities Inc.’s holdings in SBA Communications were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dodge & Cox boosted its position in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares during the last quarter. Geode Capital Management LLC boosted its position in SBA Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock worth $586,827,000 after purchasing an additional 71,023 shares during the last quarter. Deutsche Bank AG boosted its position in SBA Communications by 5.9% in the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock worth $491,549,000 after purchasing an additional 134,624 shares during the last quarter. Cohen & Steers Inc. boosted its position in SBA Communications by 29.8% in the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company’s stock worth $383,762,000 after purchasing an additional 432,644 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in SBA Communications by 8.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after purchasing an additional 142,054 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.5%

SBAC opened at $228.07 on Friday. SBA Communications Co. has a 12 month low of $187.06 and a 12 month high of $252.64. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 0.74 and a beta of 0.78. The stock has a fifty day moving average price of $228.44 and a 200-day moving average price of $216.92.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s payout ratio is 60.91%.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SBAC shares. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. Wells Fargo & Company boosted 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. Bank of America started coverage on SBA Communications in a research note on Monday, May 19th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, BMO Capital Markets upped their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $253.43.

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.