Lake Street Advisors Group LLC Purchases 61 Shares of SBA Communications Co. (NASDAQ:SBAC)

Lake Street Advisors Group LLC boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 5.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,105 shares of the technology company’s stock after acquiring an additional 61 shares during the period. Lake Street Advisors Group LLC’s holdings in SBA Communications were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. International Assets Investment Management LLC raised its stake in SBA Communications by 219,537.5% in the 3rd quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock valued at $8,459,000 after acquiring an additional 35,126 shares during the period. Assenagon Asset Management S.A. grew its holdings in SBA Communications by 1.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after buying an additional 64 shares in the last quarter. abrdn plc grew its holdings in SBA Communications by 61.5% during the 3rd quarter. abrdn plc now owns 107,303 shares of the technology company’s stock valued at $25,803,000 after buying an additional 40,849 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in SBA Communications during the 3rd quarter valued at about $620,000. Finally, First Trust Direct Indexing L.P. grew its holdings in SBA Communications by 12.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,948 shares of the technology company’s stock valued at $469,000 after buying an additional 222 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Finally, JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $253.07.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % 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 Price Performance

Shares of NASDAQ SBAC opened at $217.90 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm’s 50 day simple moving average is $203.81 and its two-hundred day simple moving average is $220.39. The stock has a market capitalization of $23.43 billion, a P/E ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

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.