NFJ Investment Group LLC Sells 957 Shares of SBA Communications Co. (NASDAQ:SBAC)

NFJ Investment Group LLC reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,855 shares of the technology company’s stock after selling 957 shares during the quarter. NFJ Investment Group LLC owned approximately 0.10% of SBA Communications worth $22,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Dodge & Cox grew its position in SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of SBA Communications by 281.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,927 shares of the technology company’s stock valued at $1,819,000 after acquiring an additional 6,589 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of SBA Communications in the fourth quarter valued at approximately $26,413,000. Canada Post Corp Registered Pension Plan purchased a new stake in SBA Communications in the 4th quarter worth $165,000. Finally, Walleye Capital LLC increased its stake in shares of SBA Communications by 10.1% during the fourth quarter. Walleye Capital LLC now owns 67,047 shares of the technology company’s stock worth $13,664,000 after purchasing an additional 6,165 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 0.1 %

Shares of SBAC opened at $224.87 on Wednesday. The company has a 50-day simple moving average of $216.05 and a 200-day simple moving average of $217.26. The company has a market capitalization of $24.20 billion, a PE ratio of 35.47, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

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 given a dividend of $1.11 per share. The ex-dividend date was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is presently 63.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays raised their price target on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.92.

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.