Invesco Ltd. Sells 182,645 Shares of SBA Communications Co. (NASDAQ:SBAC)

Invesco Ltd. lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,882 shares of the technology company's stock after selling 182,645 shares during the period. Invesco Ltd. owned 1.33% of SBA Communications worth $291,206,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its holdings in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after buying an additional 50 shares in the last quarter. 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 during the period. Auxano Advisors LLC grew its position in shares of SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock worth $225,000 after acquiring an additional 61 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of SBA Communications by 1.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

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Insider Activity at SBA Communications

In related 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 value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

SBA Communications Price Performance

SBAC traded up $3.46 during trading on Wednesday, hitting $228.33. 165,017 shares of the stock traded hands, compared to its average volume of 889,821. The firm has a market capitalization of $24.57 billion, a P/E ratio of 36.01, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a 50-day moving average of $216.05 and a 200 day moving average of $217.26.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 1.94%. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SBAC shares. Barclays raised their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective for the company. StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective for the company. Finally, BMO Capital Markets reissued a "market perform" rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $251.92.

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.