Arrowstreet Capital Limited Partnership trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,933 shares of the technology company's stock after selling 14,418 shares during the period. Arrowstreet Capital Limited Partnership owned 0.07% of SBA Communications worth $14,864,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Evermay Wealth Management LLC acquired a new position in SBA Communications in the 4th quarter valued at $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter valued at about $29,000. Oakworth Capital Inc. lifted its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group acquired a new stake in SBA Communications during the fourth quarter worth about $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in SBA Communications during the fourth quarter worth about $73,000. 97.35% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value 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. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
SBAC has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Barclays raised their target price on SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $251.92.
View Our Latest Stock Report on SBA Communications
SBA Communications Trading Up 1.7 %
SBAC traded up $3.57 during trading on Wednesday, reaching $212.14. 1,931,094 shares of the company's stock were exchanged, compared to its average volume of 890,403. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a fifty day moving average price of $214.51 and a two-hundred day moving average price of $217.79. The stock has a market capitalization of $22.83 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.
SBA Communications Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.09%. This is an increase from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's dividend payout ratio is presently 63.98%.
About SBA Communications
(
Free Report)
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.
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