Ieq Capital LLC Has $335,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Ieq Capital LLC increased its holdings in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 32.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,672 shares of the technology company’s stock after buying an additional 410 shares during the quarter. Ieq Capital LLC’s holdings in SBA Communications were worth $335,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SBAC. Norges Bank acquired a new stake in SBA Communications during the 4th quarter worth $310,556,000. Brown Advisory Inc. raised its stake in SBA Communications by 43.0% during the 2nd quarter. Brown Advisory Inc. now owns 2,108,540 shares of the technology company’s stock worth $488,675,000 after buying an additional 634,135 shares during the period. Millennium Management LLC raised its stake in SBA Communications by 294.4% during the 4th quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock worth $223,432,000 after buying an additional 594,994 shares during the period. JPMorgan Chase & Co. raised its stake in SBA Communications by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,537,428 shares of the technology company’s stock worth $662,447,000 after buying an additional 348,105 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in SBA Communications by 29.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after buying an additional 226,113 shares during the period. Institutional investors and hedge funds own 92.48% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $223.10 on Wednesday. The stock has a market capitalization of $24.07 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 1.17 and a beta of 0.61. The business has a 50-day moving average of $243.19 and a 200-day moving average of $225.03. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $309.52.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 16th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $3.40 annualized dividend and a yield of 1.52%. SBA Communications’s dividend payout ratio (DPR) is currently 74.89%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBAC. BMO Capital Markets raised SBA Communications from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $245.00 to $285.00 in a research note on Friday, December 15th. KeyCorp increased their target price on SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. Citigroup lowered their target price on SBA Communications from $260.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Morgan Stanley lowered their target price on SBA Communications from $311.00 to $227.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Finally, StockNews.com began coverage on SBA Communications in a report on Thursday, October 5th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $279.31.

Check Out Our Latest Stock Analysis on SBAC

Insider Activity at SBA Communications

In related news, Director Kevin L. Beebe sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $233.83, for a total value of $350,745.00. Following the completion of the sale, the director now directly owns 13,313 shares in the company, valued at approximately $3,112,978.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kevin L. Beebe sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $233.83, for a total value of $350,745.00. Following the completion of the sale, the director now directly owns 13,313 shares in the company, valued at approximately $3,112,978.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Stoops sold 45,779 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $233.96, for a total transaction of $10,710,454.84. Following the completion of the sale, the chief executive officer now owns 37,889 shares of the company’s stock, valued at $8,864,510.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,089 shares of company stock worth $42,590,345. Insiders own 1.60% of the company’s stock.

About SBA Communications

(Free Report)

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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