Proficio Capital Partners LLC Acquires Shares of 63,178 SBA Communications Co. (NASDAQ:SBAC)

Proficio Capital Partners LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 63,178 shares of the technology company’s stock, valued at approximately $12,876,000. Proficio Capital Partners LLC owned about 0.06% of SBA Communications at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after acquiring an additional 50 shares during the period. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc raised its position in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after buying an additional 61 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in SBA Communications by 1.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after buying an additional 64 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SBAC. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Barclays dropped their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.07.

SBA Communications Stock Down 0.1 %

NASDAQ SBAC opened at $217.90 on Friday. The stock’s 50-day simple moving average is $203.81 and its two-hundred day simple moving average is $220.40. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market capitalization of $23.43 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.