SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC reduced its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 14.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 192,777 shares of the technology company's stock after selling 32,374 shares during the period. Centersquare Investment Management LLC owned approximately 0.18% of SBA Communications worth $39,288,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of 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 shares of SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. raised its holdings 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 in the last quarter. CKW Financial Group acquired a new stake in SBA Communications in the fourth quarter valued at about $56,000. Finally, Versant Capital Management Inc boosted its holdings in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after purchasing an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SBAC shares. Morgan Stanley began coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Finally, BMO Capital Markets restated a "market perform" rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $251.92.

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Insider Activity

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

SBA Communications Price Performance

SBA Communications stock traded down $0.82 during mid-day trading on Wednesday, hitting $207.76. 529,624 shares of the company were exchanged, compared to its average volume of 884,377. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The business's 50 day simple moving average is $213.96 and its two-hundred day simple moving average is $218.02. The company has a market capitalization of $22.36 billion, a P/E ratio of 32.81, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. 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. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.14%. SBA Communications's payout ratio is 63.98%.

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.