EHP Funds Inc. Takes Position in SBA Communications Co. (NASDAQ:SBAC)

EHP Funds Inc. acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,500 shares of the technology company’s stock, valued at approximately $510,000. SBA Communications makes up 0.5% of EHP Funds Inc.’s portfolio, making the stock its 29th biggest holding.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of SBA Communications by 23.9% in the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company’s stock valued at $260,000 after acquiring an additional 246 shares during the period. Oak Thistle LLC boosted its position in SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares in the last quarter. Czech National Bank grew its stake in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares during the last quarter. First Hawaiian Bank raised its holdings in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after buying an additional 38,725 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.4 %

Shares of NASDAQ:SBAC opened at $242.83 on Wednesday. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64. The company’s 50 day moving average is $222.66 and its 200 day moving average is $216.37. The company has a market cap of $26.13 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.83%. SBA Communications’s dividend payout ratio (DPR) is presently 60.91%.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack Langer sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Raymond James reaffirmed a “strong-buy” rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. BMO Capital Markets increased their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Tuesday, April 29th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities upped their target price on SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 29th. Six equities 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 stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.38.

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.