Daiwa Securities Group Inc. Sells 76,849 Shares of SBA Communications Co. (NASDAQ:SBAC)

Daiwa Securities Group Inc. lessened its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 72.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,682 shares of the technology company's stock after selling 76,849 shares during the period. Daiwa Securities Group Inc.'s holdings in SBA Communications were worth $6,050,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Moran Wealth Management LLC bought a new stake in SBA Communications in the fourth quarter valued at approximately $13,706,000. AlphaQuest LLC increased its stake in shares of SBA Communications by 80.6% in the fourth quarter. AlphaQuest LLC now owns 6,198 shares of the technology company's stock worth $1,263,000 after buying an additional 2,766 shares during the period. OFI Invest Asset Management bought a new stake in SBA Communications during the 4th quarter valued at $865,000. Personal CFO Solutions LLC boosted its position in SBA Communications by 10.3% during the 4th quarter. Personal CFO Solutions LLC now owns 2,324 shares of the technology company's stock valued at $474,000 after buying an additional 217 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in SBA Communications by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 18,328 shares of the technology company's stock worth $3,735,000 after acquiring an additional 586 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBAC has been the subject of several recent analyst reports. StockNews.com downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Barclays dropped their price target on SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Finally, BMO Capital Markets reiterated 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. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.54.

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SBA Communications Price Performance

NASDAQ:SBAC opened at $216.48 on Thursday. The firm has a market capitalization of $23.30 billion, a P/E ratio of 34.15, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The company's 50-day simple moving average is $206.59 and its 200 day simple moving average is $220.49.

SBA Communications Increases Dividend

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

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the company's stock in a transaction dated Friday, December 20th. The shares were 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 in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate 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.

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