Tredje AP fonden decreased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 50.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,530 shares of the technology company's stock after selling 8,529 shares during the quarter. Tredje AP fonden's holdings in SBA Communications were worth $1,738,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at about $27,000. Oakworth Capital Inc. increased its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications in the 4th quarter valued at about $56,000. Finally, Versant Capital Management Inc increased 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 purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SBAC. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.54.
Get Our Latest Report on SBAC
Insider Buying and Selling at SBA Communications
In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company's 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 transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
SBA Communications Stock Performance
Shares of SBAC stock traded down $3.36 on Wednesday, hitting $219.79. 794,452 shares of the stock traded hands, compared to its average volume of 847,484. The firm's 50-day moving average price is $208.18 and its two-hundred day moving average price is $220.21. The stock has a market capitalization of $23.65 billion, a PE ratio of 34.67, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.
SBA Communications Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is presently 63.98%.
About SBA Communications
(
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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