Allianz SE Buys Shares of 4,468 SBA Communications Co. (NASDAQ:SBAC)

Allianz SE acquired a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,468 shares of the technology company’s stock, valued at approximately $908,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allstate Corp acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $651,000. Brown Brothers Harriman & Co. raised its holdings in SBA Communications by 6.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,718 shares of the technology company’s stock valued at $350,000 after acquiring an additional 97 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock valued at $1,011,000 after acquiring an additional 64 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of SBA Communications by 0.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 220,756 shares of the technology company’s stock worth $44,990,000 after acquiring an additional 1,774 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of SBA Communications by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,136 shares of the technology company’s stock worth $6,346,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBA Communications stock opened at $216.84 on Monday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The firm has a market cap of $23.34 billion, a P/E ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74. The business’s fifty day moving average is $211.31 and its two-hundred day moving average is $219.20.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is currently 63.98%.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBAC. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays increased their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

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.