Cbre Investment Management Listed Real Assets LLC Reduces Holdings in SBA Communications Co. (NASDAQ:SBAC)

Cbre Investment Management Listed Real Assets LLC decreased its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,300 shares of the technology company's stock after selling 31,485 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.10% of SBA Communications worth $21,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in SBA Communications during the third quarter worth approximately $26,000. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications during the third quarter worth approximately $35,000. Oakworth Capital Inc. grew its stake 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. Finally, Farther Finance Advisors LLC grew its stake in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of SBAC stock traded up $1.03 during trading hours on Wednesday, reaching $220.38. The company had a trading volume of 792,237 shares, compared to its average volume of 846,989. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The business has a fifty day simple moving average of $204.87 and a 200-day simple moving average of $220.48. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

SBAC has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Five research 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $253.07.

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.