SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 15.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,232 shares of the technology company’s stock after purchasing an additional 11,988 shares during the quarter. Gateway Investment Advisers LLC’s holdings in SBA Communications were worth $19,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dodge & Cox boosted its position in shares of SBA Communications by 352.5% during the fourth 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 period. JPMorgan Chase & Co. increased its position in SBA Communications by 16.6% in 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 acquiring an additional 605,872 shares during the period. Geode Capital Management LLC raised its stake in SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after acquiring an additional 71,023 shares in the last quarter. Deutsche Bank AG boosted its position in SBA Communications by 5.9% during the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock worth $491,549,000 after acquiring an additional 134,624 shares during the period. Finally, Cohen & Steers Inc. boosted its position in SBA Communications by 29.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company’s stock worth $383,762,000 after acquiring an additional 432,644 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction 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 transaction, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Bank of America began coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a “buy” rating and a $260.00 target price on the stock. BMO Capital Markets upped their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $253.43.

SBA Communications Price Performance

SBAC stock opened at $225.68 on Friday. SBA Communications Co. has a 12 month low of $187.06 and a 12 month high of $252.64. The firm has a market cap of $24.25 billion, a PE ratio of 35.60, a P/E/G ratio of 0.74 and a beta of 0.78. The firm has a 50 day simple moving average of $228.05 and a 200 day simple moving average of $216.79.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. SBA Communications’s dividend payout ratio is currently 60.91%.

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.