SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 357,024 shares of the technology company's stock after selling 11,825 shares during the quarter. Russell Investments Group Ltd. owned 0.33% of SBA Communications worth $72,715,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC grew its stake 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 acquiring an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 buying an additional 53 shares during the period. Auxano Advisors LLC increased its stake in shares of 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 grew its holdings in SBA Communications by 5.8% during 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 in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after purchasing an additional 64 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SBAC shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an "outperform" rating and a $250.00 target price on the stock. Barclays lifted their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.

SBA Communications Stock Up 2.3 %

SBAC traded up $4.90 during trading on Friday, hitting $217.10. The company's stock had a trading volume of 404,505 shares, compared to its average volume of 890,260. The stock's fifty day moving average price is $214.80 and its 200-day moving average price is $217.58. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm has a market capitalization of $23.36 billion, a P/E ratio of 34.29, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's payout ratio is presently 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.