Wellington Management Group LLP Lowers Position in SBA Communications Co. (NASDAQ:SBAC)

Wellington Management Group LLP lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,457 shares of the technology company's stock after selling 31,952 shares during the quarter. Wellington Management Group LLP owned 0.21% of SBA Communications worth $46,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oak Thistle LLC boosted its holdings in shares of SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank grew its holdings in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after acquiring an additional 1,421 shares during the last quarter. First Hawaiian Bank boosted its stake in shares of SBA Communications by 91.0% in the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after purchasing an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of SBA Communications by 49.3% in the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock valued at $141,205,000 after acquiring an additional 226,878 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm'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 sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research analyst reports. Barclays raised their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They set an "outperform" rating and a $250.00 target price for the company. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.92.

SBA Communications Stock Performance

NASDAQ SBAC traded down $1.11 during trading hours on Thursday, hitting $211.04. The company had a trading volume of 271,742 shares, compared to its average volume of 888,313. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The firm has a 50 day simple moving average of $214.51 and a 200 day simple moving average of $217.79. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.10%. 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%.

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.