SBA Communications Co. (NASDAQ:SBAC) Position Boosted by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,763 shares of the technology company’s stock after purchasing an additional 4,330 shares during the period. Toronto Dominion Bank owned about 0.06% of SBA Communications worth $14,014,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the fourth quarter worth about $27,000. Graney & King LLC bought a new position in SBA Communications in the fourth quarter worth about $29,000. Oakworth Capital Inc. lifted its holdings in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the last quarter. State of Wyoming lifted its holdings in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after acquiring an additional 119 shares during the last quarter. Finally, Sherman Asset Management Inc. bought a new position in SBA Communications in the fourth quarter worth about $73,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $231.01 on Wednesday. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The firm has a market capitalization of $24.82 billion, a PE ratio of 36.44, a P/E/G ratio of 0.74 and a beta of 0.83. The company’s 50 day simple moving average is $226.17 and its 200 day simple moving average is $216.23.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.92%. SBA Communications’s dividend payout ratio is presently 60.91%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 target price on the stock. in a report on Tuesday, May 20th. BMO Capital Markets raised their target price 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. Citigroup raised their target price on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Barclays raised their price target on shares of SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price target on the stock. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Insider Activity at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on 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 transaction, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now 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 disclosure for this sale can be found here. Company insiders own 0.92% 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.