Victory Capital Management Inc. Has $436.97 Million Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Victory Capital Management Inc. raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 11.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,986,133 shares of the technology company’s stock after buying an additional 204,902 shares during the quarter. Victory Capital Management Inc.’s holdings in SBA Communications were worth $436,969,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of SBA Communications during the 1st quarter valued at about $28,000. Graney & King LLC bought a new stake in shares of SBA Communications during the 4th quarter worth approximately $29,000. Allworth Financial LP increased its holdings in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after acquiring an additional 62 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of SBA Communications during the 1st quarter worth approximately $51,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on SBAC shares. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price objective on the stock. in a report on Tuesday, May 20th. Wall Street Zen lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. UBS Group raised their price objective on SBA Communications from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays increased their target price on SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research report on Tuesday, April 29th. Finally, JMP Securities increased 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

SBA Communications Price Performance

NASDAQ SBAC opened at $230.03 on Wednesday. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The business has a 50 day simple moving average of $231.24 and a 200 day simple moving average of $219.81. The stock has a market capitalization of $24.72 billion, a P/E ratio of 31.55, a P/E/G ratio of 1.91 and a beta of 0.78.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.93%. SBA Communications’s dividend payout ratio (DPR) is presently 60.91%.

Insider Activity

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director owned 10,522 shares of the company’s stock, valued at $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is currently owned by insiders.

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.