Schroder Investment Management Group Cuts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Schroder Investment Management Group lessened its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,742 shares of the technology company's stock after selling 8,535 shares during the period. Schroder Investment Management Group owned approximately 0.19% of SBA Communications worth $40,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SBAC. State Street Corp boosted its stake in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock worth $1,117,697,000 after buying an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock valued at $379,290,000 after purchasing an additional 142,054 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after purchasing an additional 565,137 shares during the last quarter. Finally, Norges Bank purchased a new position in SBA Communications in the 4th quarter worth $268,287,000. Institutional investors own 97.35% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBAC. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Wednesday. BMO Capital Markets restated 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 assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their target price 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. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded down $10.96 during midday trading on Friday, hitting $219.91. 2,220,135 shares of the company traded hands, compared to its average volume of 876,984. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a 50-day moving average price of $213.48 and a 200 day moving average price of $218.48. The firm has a market cap of $23.67 billion, a P/E ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is currently 63.98%.

Insider Activity

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on 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 in the company, valued at approximately $1,362,790.22. This 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 currently owned by company insiders.

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.