Capital International Investors Sells 24,608 Shares of SBA Communications Co. (NASDAQ:SBAC)

Capital International Investors lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 368,428 shares of the technology company’s stock after selling 24,608 shares during the period. Capital International Investors’ holdings in SBA Communications were worth $75,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Evermay Wealth Management LLC purchased a new position in SBA Communications in the 4th quarter worth about $27,000. Graney & King LLC purchased a new position in shares of SBA Communications during the fourth quarter worth approximately $29,000. Oakworth Capital Inc. raised its stake 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 valued at $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group purchased a new stake in shares of SBA Communications in the fourth quarter valued at approximately $56,000. Finally, Versant Capital Management Inc increased its holdings in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SBAC shares. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday. Barclays upped their price target on shares of 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 assumed coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company raised their price objective on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.92.

SBA Communications Trading Up 1.5 %

Shares of SBA Communications stock opened at $229.06 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm’s 50 day simple moving average is $217.30 and its two-hundred day simple moving average is $216.98. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 1.94%. SBA Communications’s dividend payout ratio (DPR) is 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 on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

SBA Communications Company 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.