SBA Communications Co. (NASDAQ:SBAC) Position Decreased by Swiss National Bank

Swiss National Bank lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,500 shares of the technology company's stock after selling 15,400 shares during the period. Swiss National Bank owned about 0.28% of SBA Communications worth $61,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SBAC. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $27,000. Oakworth Capital Inc. lifted 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 in the last quarter. CKW Financial Group acquired a new stake in SBA Communications during the 4th quarter worth approximately $56,000. Versant Capital Management Inc lifted its holdings in 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 buying an additional 53 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications in the 4th quarter valued at $73,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SBAC. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Barclays cut their target price on shares of SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Finally, JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 price target for the company. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $252.54.

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SBA Communications Price Performance

SBAC stock traded down $3.36 during midday trading on Wednesday, reaching $219.79. 794,451 shares of the company's stock traded hands, compared to its average volume of 847,484. The company has a market capitalization of $23.65 billion, a P/E ratio of 34.67, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The business has a 50-day moving average price of $208.18 and a two-hundred day moving average price of $220.21.

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 given a dividend of $1.11 per share. This is a boost 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 2.02%. The ex-dividend date is Thursday, March 13th. SBA Communications's payout ratio is presently 63.98%.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the firm'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 transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

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.