Sherman Asset Management Inc. Makes New $73,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Sherman Asset Management Inc. purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 357 shares of the technology company’s stock, valued at approximately $73,000.

Several other large investors also recently modified their holdings of the stock. Hahn Capital Management LLC grew its position in shares of SBA Communications by 51.1% during the 4th quarter. Hahn Capital Management LLC now owns 20,632 shares of the technology company’s stock worth $4,205,000 after buying an additional 6,973 shares during the period. QRG Capital Management Inc. grew its position in shares of SBA Communications by 1.8% during the 4th quarter. QRG Capital Management Inc. now owns 6,775 shares of the technology company’s stock worth $1,381,000 after buying an additional 120 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth approximately $12,876,000. SRN Advisors LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth approximately $218,000. Finally, Lake Street Advisors Group LLC grew its position 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 worth $225,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays reduced their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.07.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Price Performance

NASDAQ SBAC opened at $217.90 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69. The company has a fifty day moving average price of $203.81 and a 200-day moving average price of $220.40.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s payout ratio is 63.98%.

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.