SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Torray Investment Partners LLC

Torray Investment Partners LLC grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,788 shares of the technology company’s stock after purchasing an additional 67 shares during the quarter. Torray Investment Partners LLC’s holdings in SBA Communications were worth $1,995,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $26,000. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of SBA Communications in the third quarter valued at about $35,000. Oakworth Capital Inc. grew its position in shares of 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. Finally, Farther Finance Advisors LLC grew its position in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company boosted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Stock Performance

SBA Communications stock opened at $221.51 on Tuesday. The company’s 50 day simple moving average is $204.17 and its 200-day simple moving average is $220.47. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced 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 an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Buying and Selling

In other SBA Communications news, 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 represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.