American Century Companies Inc. Sells 763,632 Shares of SBA Communications Co. (NASDAQ:SBAC)

American Century Companies Inc. decreased its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 63.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 442,247 shares of the technology company's stock after selling 763,632 shares during the quarter. American Century Companies Inc. owned 0.41% of SBA Communications worth $90,130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock worth $1,117,697,000 after purchasing an additional 81,566 shares during the period. JPMorgan Chase & Co. grew its position in shares of SBA Communications by 16.6% during the third 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 during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock worth $379,290,000 after acquiring an additional 142,054 shares during the period. Victory Capital Management Inc. lifted its position in 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after purchasing an additional 38,725 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the firm'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 completion of the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBAC. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Tuesday. Barclays boosted their target price on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $252.85.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded up $0.46 during mid-day trading on Friday, hitting $216.84. The stock had a trading volume of 533,757 shares, compared to its average volume of 871,640. The company's 50 day moving average is $211.04 and its 200-day moving average is $219.68. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a market cap of $23.34 billion, a PE ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, March 13th. This is a boost from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is 63.98%.

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.