Kure Advisory LLC Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Kure Advisory LLC bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,009 shares of the technology company’s stock, valued at approximately $222,000.

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

Insider Transactions at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now directly 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 is accessible through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the firm’s 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 completion of 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. Insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SBAC shares. Wells Fargo & Company increased their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Raymond James reiterated a “strong-buy” rating and set a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Bank of America started coverage on SBA Communications in a report on Monday, May 19th. They set a “buy” rating and a $260.00 target price for the company. Finally, Citigroup increased their target price on SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

SBA Communications Price Performance

Shares of SBAC stock opened at $231.06 on Tuesday. The stock’s fifty day moving average price is $227.21 and its 200 day moving average price is $216.50. SBA Communications Co. has a 1-year low of $187.06 and a 1-year high of $252.64. The company has a market cap of $24.83 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

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

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.