Farringdon Capital Ltd. Purchases New Shares in SBA Communications Co. (NASDAQ:SBAC)

Farringdon Capital Ltd. acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,404 shares of the technology company’s stock, valued at approximately $1,101,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after buying an additional 273,237 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of SBA Communications by 19.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,672 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 921 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of SBA Communications by 19.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company’s stock valued at $379,000 after purchasing an additional 258 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of SBA Communications by 8.8% in the third quarter. Tidal Investments LLC now owns 2,868 shares of the technology company’s stock valued at $690,000 after purchasing an additional 233 shares during the period. Finally, Synovus Financial Corp raised its stake in shares of SBA Communications by 13.0% during the third quarter. Synovus Financial Corp now owns 13,222 shares of the technology company’s stock worth $3,183,000 after purchasing an additional 1,522 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

SBA Communications stock opened at $225.67 on Thursday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a market capitalization of $24.29 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The stock’s fifty day moving average is $216.45 and its two-hundred day moving average is $217.32.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the 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 owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lifted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price objective on the stock. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $251.92.

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.