SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,632 shares of the technology company's stock after selling 2,238 shares during the quarter. Maryland State Retirement & Pension System owned about 0.09% of SBA Communications worth $19,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SBAC. Exchange Traded Concepts LLC boosted its stake in SBA Communications by 15.1% during 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 during the period. Versant Capital Management Inc boosted its stake in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after buying an additional 53 shares during the period. Auxano Advisors LLC boosted its stake in SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after buying an additional 54 shares during the period. Lake Street Advisors Group LLC boosted its stake in SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock worth $225,000 after buying an additional 61 shares during the period. Finally, Torray Investment Partners LLC boosted its stake in SBA Communications by 0.7% during the fourth quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company's stock worth $1,995,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

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SBA Communications Trading Up 0.3 %

NASDAQ:SBAC traded up $0.67 during mid-day trading on Friday, hitting $221.64. The stock had a trading volume of 1,208,595 shares, compared to its average volume of 849,287. The stock has a 50-day simple moving average of $209.59 and a two-hundred day simple moving average of $220.10. The company has a market capitalization of $23.85 billion, a PE ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.00%. SBA Communications's dividend payout ratio (DPR) is 63.98%.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction that occurred on 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 trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SBAC shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. 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 objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Finally, Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Five investment 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.85.

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.