SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 23.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,541 shares of the technology company’s stock after purchasing an additional 867 shares during the quarter. Modera Wealth Management LLC’s holdings in SBA Communications were worth $926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after acquiring an additional 50 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC grew its holdings in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after purchasing an additional 61 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in SBA Communications by 23.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, 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. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.07.

SBA Communications Stock Performance

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

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio is 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.