SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Capital Fund Management S.A.

Capital Fund Management S.A. lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 42.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,519 shares of the technology company's stock after selling 47,445 shares during the quarter. Capital Fund Management S.A. owned about 0.06% of SBA Communications worth $13,149,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Oak Thistle LLC raised its position in SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after acquiring an additional 2,863 shares in the last quarter. Czech National Bank increased its stake in shares of SBA Communications by 6.5% in 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 during the period. First Hawaiian Bank grew its holdings in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $266,675,000 after purchasing an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock worth $141,205,000 after purchasing an additional 226,878 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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SBA Communications Price Performance

Shares of NASDAQ:SBAC traded up $0.14 during midday trading on Tuesday, hitting $224.87. The company had a trading volume of 747,400 shares, compared to its average volume of 892,650. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a fifty day moving average of $215.66 and a two-hundred day moving average of $217.21. The company has a market cap of $24.20 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's payout ratio is 63.98%.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction on 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 approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBAC shares. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company increased 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 note on Wednesday, February 26th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $251.92.

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.