Natixis Advisors LLC Acquires 5,943 Shares of SBA Communications Co. (NASDAQ:SBAC)

Natixis Advisors LLC boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 7.9% in the 4th quarter, HoldingsChannel reports. The firm owned 80,778 shares of the technology company’s stock after purchasing an additional 5,943 shares during the quarter. Natixis Advisors LLC’s holdings in SBA Communications were worth $16,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new position in SBA Communications in the 4th quarter worth approximately $27,000. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group bought a new position in shares of SBA Communications during the 4th quarter valued at approximately $56,000. Sherman Asset Management Inc. bought a new position in shares of SBA Communications during the 4th quarter valued at approximately $73,000. Finally, Versant Capital Management Inc boosted its position in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 1.0 %

SBAC stock opened at $223.15 on Wednesday. The business’s fifty day simple moving average is $208.18 and its two-hundred day simple moving average is $220.21. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm has a market cap of $24.01 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 1.99%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays lowered their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Finally, Wells Fargo & Company raised their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.54.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.