Voyager Global Management LP Makes New $95.79 Million Investment in SBA Communications Co. (NASDAQ:SBAC)

Voyager Global Management LP bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 470,000 shares of the technology company’s stock, valued at approximately $95,786,000. SBA Communications comprises 3.8% of Voyager Global Management LP’s holdings, making the stock its 11th largest holding. Voyager Global Management LP owned about 0.44% of SBA Communications as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares during the period. Versant Capital Management Inc raised its holdings in 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 buying an additional 53 shares during the period. Auxano Advisors LLC raised its holdings in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after buying an additional 54 shares during the period. Lake Street Advisors Group LLC lifted its position in SBA Communications by 5.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after buying an additional 61 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in SBA Communications by 1.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock worth $1,011,000 after buying an additional 64 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $222.84 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 0.74 and a beta of 0.83. The firm’s 50-day moving average is $218.83 and its two-hundred day moving average is $216.79.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.99%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SBAC. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price for the company. Wells Fargo & Company increased their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Barclays boosted their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.92.

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.