Independence Bank of Kentucky Has $67,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Independence Bank of Kentucky boosted its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 96.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 265 shares of the technology company’s stock after purchasing an additional 130 shares during the quarter. Independence Bank of Kentucky’s holdings in SBA Communications were worth $67,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in SBA Communications by 6.3% during the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock valued at $68,854,000 after purchasing an additional 16,244 shares during the period. Natixis Advisors L.P. lifted its stake in SBA Communications by 18.8% in the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock valued at $7,348,000 after buying an additional 5,814 shares in the last quarter. Aurora Investment Counsel lifted its stake in SBA Communications by 8.3% in the third quarter. Aurora Investment Counsel now owns 6,248 shares of the technology company’s stock valued at $1,251,000 after buying an additional 480 shares in the last quarter. Aviva PLC lifted its stake in SBA Communications by 40.5% in the third quarter. Aviva PLC now owns 95,680 shares of the technology company’s stock valued at $19,152,000 after buying an additional 27,599 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in SBA Communications in the third quarter valued at approximately $2,601,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SBAC. KeyCorp lifted their price target on shares of SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. BMO Capital Markets cut their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Barclays cut their price target on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $268.38.

Read Our Latest Report on SBA Communications

SBA Communications Trading Up 0.8 %

NASDAQ SBAC opened at $214.64 on Thursday. The firm’s fifty day moving average price is $216.03 and its two-hundred day moving average price is $222.45. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $267.42. The firm has a market capitalization of $23.20 billion, a P/E ratio of 46.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.56.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same period last year, the company posted $3.11 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that SBA Communications Co. will post 12.59 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio is 85.03%.

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 throughout the Americas, Africa and in Asia, 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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