Deutsche Bank AG Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Deutsche Bank AG boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,411,920 shares of the technology company’s stock after purchasing an additional 134,624 shares during the period. Deutsche Bank AG owned about 2.24% of SBA Communications worth $491,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in shares of SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after buying an additional 5,722,740 shares during the last quarter. Norges Bank bought a new position in SBA Communications in the fourth quarter valued at about $268,287,000. Wealthfront Advisers LLC boosted its position in SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. BROOKFIELD Corp ON grew its stake in shares of SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company’s stock valued at $202,016,000 after purchasing an additional 987,647 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares of the company’s stock, valued at $2,531,487.98. This represents a 32.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

SBA Communications Trading Down 1.0 %

Shares of NASDAQ:SBAC opened at $240.31 on Thursday. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The company has a 50-day moving average price of $223.11 and a 200 day moving average price of $216.53.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications’s dividend payout ratio is currently 60.91%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBAC. BMO Capital Markets raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Tuesday, April 29th. Wells Fargo & Company upped 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. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Barclays raised their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research report on Tuesday, April 29th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.