DF Dent & Co. Inc. Cuts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

DF Dent & Co. Inc. lowered its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,596 shares of the technology company's stock after selling 3,734 shares during the period. DF Dent & Co. Inc.'s holdings in SBA Communications were worth $1,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in shares of SBA Communications by 18.1% in the third quarter. FMR LLC now owns 387,967 shares of the technology company's stock worth $93,384,000 after buying an additional 59,368 shares during the period. Townsquare Capital LLC raised its position in shares of SBA Communications by 36.2% in the 3rd quarter. Townsquare Capital LLC now owns 1,867 shares of the technology company's stock worth $449,000 after acquiring an additional 496 shares in the last quarter. Erste Asset Management GmbH purchased a new position in SBA Communications during the third quarter valued at $265,000. HighTower Advisors LLC increased its stake in shares of SBA Communications by 1.4% during the third quarter. HighTower Advisors LLC now owns 46,252 shares of the technology company's stock valued at $11,062,000 after purchasing an additional 655 shares in the last quarter. Finally, Rush Island Management LP bought a new position in SBA Communications during the 3rd quarter valued at approximately $47,901,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC traded up $3.57 during midday trading on Wednesday, hitting $212.14. The stock had a trading volume of 1,931,094 shares, compared to its average volume of 890,403. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock's 50 day moving average is $214.51 and its 200 day moving average is $217.79. The firm has a market cap of $22.83 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

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SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's payout ratio is 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications 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 directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several analyst reports. Barclays upped their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Morgan Stanley initiated coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price on the stock. Finally, JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target on the stock. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $251.92.

About SBA Communications

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.