SBA Communications Co. (NASDAQ:SBAC) Shares Sold by National Pension Service

National Pension Service lessened its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,378 shares of the technology company's stock after selling 21,588 shares during the quarter. National Pension Service owned approximately 0.15% of SBA Communications worth $32,074,000 at the end of the most recent quarter.

Several other large investors have also 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 about $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the third quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its stake in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Oakworth Capital Inc. raised its holdings in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company's stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Price Performance

Shares of SBAC stock traded down $1.13 during mid-day trading on Tuesday, hitting $220.38. The stock had a trading volume of 653,595 shares, compared to its average volume of 849,646. The firm has a market cap of $23.70 billion, a PE ratio of 34.79, a PEG ratio of 0.74 and a beta of 0.69. The company's 50-day simple moving average is $204.17 and its 200-day simple moving average is $220.47. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.01%. This is an increase from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SBAC shares. Barclays lowered 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. Wells Fargo & Company upped 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. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $253.07.

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.