National Bank of Canada FI Sells 3,453 Shares of SBA Communications Co. (NASDAQ:SBAC)

National Bank of Canada FI decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,373 shares of the technology company's stock after selling 3,453 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of SBA Communications worth $13,938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in SBA Communications by 12.4% in the 4th quarter. Franklin Resources Inc. now owns 114,927 shares of the technology company's stock valued at $23,422,000 after purchasing an additional 12,645 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of SBA Communications by 38.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,387 shares of the technology company's stock valued at $1,505,000 after acquiring an additional 2,035 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of SBA Communications by 39.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company's stock valued at $224,328,000 after acquiring an additional 312,125 shares in the last quarter. Allianz SE bought a new position in SBA Communications during the fourth quarter worth about $908,000. Finally, Allstate Corp acquired a new stake in SBA Communications in the 4th quarter worth about $651,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

SBAC has been the topic of several recent research reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Morgan Stanley began coverage on SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Five 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.92.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated 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 transaction, the vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

SBA Communications Stock Down 1.4 %

Shares of SBAC stock traded down $3.07 during trading hours on Thursday, hitting $209.07. 408,361 shares of the company's stock traded hands, compared to its average volume of 888,625. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a market cap of $22.50 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The stock's 50 day simple moving average is $214.51 and its 200 day simple moving average is $217.79.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $1.11 dividend. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's dividend payout ratio is currently 63.98%.

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.