Capital Fund Management S.A. decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC – Free Report) by 42.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,519 shares of the technology company’s stock after selling 47,445 shares during the quarter. Capital Fund Management S.A. owned 0.06% of SBA Communications worth $13,149,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter worth approximately $27,000. Graney & King LLC bought a new stake in shares of SBA Communications during the fourth quarter worth $29,000. Oakworth Capital Inc. increased its holdings in shares of SBA Communications by 161.8% during the fourth 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 position in shares of SBA Communications during the fourth quarter worth $56,000. Finally, Versant Capital Management Inc lifted 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 acquiring an additional 53 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.
Analyst Upgrades and Downgrades
SBAC has been the topic of a number of research reports. JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley began coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five research 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $251.92.
SBA Communications Trading Up 3.3 %
Shares of SBA Communications stock opened at $219.18 on Friday. The business has a 50-day moving average price of $215.23 and a two-hundred day moving average price of $217.44. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a market cap of $23.59 billion, a P/E ratio of 34.57, a PEG ratio of 0.74 and a beta of 0.83.
SBA Communications Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.
Insider Buying and Selling at SBA Communications
In other news, 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 transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.
SBA Communications Profile
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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