Toronto Dominion Bank Has $14.01 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Toronto Dominion Bank increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 68,763 shares of the technology company’s stock after buying an additional 4,330 shares during the quarter. Toronto Dominion Bank’s holdings in SBA Communications were worth $14,014,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dodge & Cox raised its holdings in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares during the period. Norges Bank bought a new stake in shares of SBA Communications in the 4th quarter valued at $268,287,000. Wealthfront Advisers LLC raised its stake in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after buying an additional 1,122,064 shares during the period. BROOKFIELD Corp ON lifted its holdings in SBA Communications by 27,449.9% during the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company’s stock worth $202,016,000 after acquiring an additional 987,647 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after acquiring an additional 605,872 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $235.51 on Tuesday. The business has a 50-day moving average of $224.85 and a 200-day moving average of $215.90. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a fifty-two week low of $185.44 and a fifty-two week high of $252.64.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.89%. SBA Communications’s dividend payout ratio is 60.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SBAC shares. JMP Securities raised their price target on SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 29th. Raymond James reissued a “strong-buy” rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Barclays increased their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 29th. Six investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $252.93.

Insiders Place Their Bets

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares in the company, valued at $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.92% 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.