Aviva PLC Sells 2,356 Shares of SBA Communications Co. (NASDAQ:SBAC)

Aviva PLC cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,895 shares of the technology company's stock after selling 2,356 shares during the quarter. Aviva PLC owned 0.12% of SBA Communications worth $25,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Oak Thistle LLC boosted its position in shares of SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank lifted its stake in SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after buying an additional 1,421 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after buying an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after acquiring an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of SBA Communications by 49.3% during the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock valued at $141,205,000 after acquiring an additional 226,878 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SBAC shares. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 price target on the stock. StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and an average price target of $251.92.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $4.64 during midday trading on Friday, reaching $216.84. 376,548 shares of the company's stock traded hands, compared to its average volume of 890,119. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company's 50 day simple moving average is $214.80 and its 200 day simple moving average is $217.58.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is 63.98%.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.