Thrivent Financial for Lutherans reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 836,443 shares of the technology company's stock after selling 38,502 shares during the period. Thrivent Financial for Lutherans owned approximately 0.78% of SBA Communications worth $170,467,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of SBAC. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter worth approximately $27,000. Oakworth Capital Inc. raised its holdings in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after buying an additional 144 shares during the period. CKW Financial Group acquired a new stake in SBA Communications during the 4th quarter worth approximately $56,000. Versant Capital Management Inc grew its stake in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after acquiring an additional 53 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new position in shares of SBA Communications during the 4th quarter worth approximately $73,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Barclays raised 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. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company raised their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Finally, StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Five investment 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $252.85.
View Our Latest Research Report on SBAC
Insider Transactions at SBA Communications
In related news, VP Joshua Koenig sold 2,209 shares of the business's 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 owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company's stock.
SBA Communications Stock Up 0.3 %
Shares of SBAC traded up $0.67 during midday trading on Friday, reaching $221.64. 1,208,595 shares of the stock were exchanged, compared to its average volume of 849,408. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market cap of $23.85 billion, a P/E ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. The stock's 50 day simple moving average is $209.59 and its 200 day simple moving average is $220.17.
SBA Communications Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.
SBA Communications Profile
(
Free Report)
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.
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