Insider Selling: SBA Communications Co. (NASDAQ:SBAC) VP Sells 2,209 Shares of Stock

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SBA Communications Price Performance

NASDAQ SBAC traded down $2.99 during mid-day trading on Wednesday, hitting $217.43. The stock had a trading volume of 474,370 shares, compared to its average volume of 834,894. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm's 50 day moving average is $206.33 and its 200 day moving average is $220.51. The stock has a market capitalization of $23.40 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is an increase from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, March 13th. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.

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Institutional Trading of SBA Communications

Large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the 3rd quarter worth approximately $26,000. Evermay Wealth Management LLC purchased a new position in SBA Communications during the fourth quarter worth approximately $27,000. Graney & King LLC acquired a new position in SBA Communications during the fourth quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the third quarter worth $35,000. Finally, Farther Finance Advisors LLC grew its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

SBAC has been the subject of several recent research reports. Barclays cut their target price on shares of SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. StockNews.com downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Royal Bank of Canada restated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.54.

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.