Zurcher Kantonalbank Zurich Cantonalbank Sells 2,910 Shares of SBA Communications Co. (NASDAQ:SBAC)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,038 shares of the technology company's stock after selling 2,910 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in SBA Communications were worth $5,103,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SBAC. Ashton Thomas Securities LLC acquired a new stake in SBA Communications in the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. boosted its stake in shares of 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 acquiring an additional 144 shares during the period. CKW Financial Group bought a new position in shares of SBA Communications during the 4th quarter worth approximately $56,000. Finally, Versant Capital Management Inc raised its stake in 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 acquiring an additional 53 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of research analyst reports. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. BMO Capital Markets restated a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $252.54.

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Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction dated Friday, March 7th. The stock was 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Up 1.0 %

Shares of NASDAQ:SBAC traded up $2.25 during trading on Tuesday, reaching $223.15. 750,938 shares of the company traded hands, compared to its average volume of 847,670. The firm has a market capitalization of $24.01 billion, a PE ratio of 35.20, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company's 50 day moving average is $207.64 and its two-hundred day moving average is $220.23.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is 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.