UniSuper Management Pty Ltd decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,334 shares of the technology company's stock after selling 18,043 shares during the quarter. UniSuper Management Pty Ltd owned about 0.06% of SBA Communications worth $13,519,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC increased its position in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after acquiring an additional 2,863 shares in the last quarter. Czech National Bank increased its holdings in shares of SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after purchasing an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock worth $60,495,000 after purchasing an additional 249,610 shares during the last quarter. First Hawaiian Bank lifted its holdings in shares of SBA Communications by 91.0% during the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock valued at $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after buying an additional 38,725 shares during the last quarter. 97.35% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Barclays boosted their target price on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective on the stock. Morgan Stanley assumed coverage on shares of SBA Communications in a research report on Tuesday. They issued an "equal weight" rating and a $240.00 target price for the company. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Tuesday, March 25th. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Five 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, SBA Communications currently has an average rating of "Moderate Buy" and an average target price of $251.92.
Check Out Our Latest Stock Analysis on SBAC
SBA Communications Stock Performance
Shares of SBAC traded up $0.08 during mid-day trading on Tuesday, reaching $220.09. The stock had a trading volume of 172,187 shares, compared to its average volume of 870,236. The business has a fifty day moving average of $211.64 and a 200 day moving average of $219.06. The firm has a market cap of $23.68 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.
SBA Communications Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is presently 63.98%.
Insider Activity
In related news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company's stock.
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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