IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.10 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,384 shares of the technology company’s stock after selling 736 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in SBA Communications were worth $1,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC boosted its stake in shares of SBA Communications by 23,553.0% in the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock valued at $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after acquiring an additional 700,791 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares during the period. Finally, KBC Group NV boosted its position in shares of SBA Communications by 212.3% during the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after purchasing an additional 278,737 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $216.38 on Friday. The firm has a market capitalization of $23.29 billion, a P/E ratio of 34.13, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The company’s 50-day moving average is $211.04 and its 200 day moving average is $219.68.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBAC. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Company 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.