SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,455 shares of the technology company’s stock after selling 1,128 shares during the period. Trillium Asset Management LLC owned approximately 0.05% of SBA Communications worth $11,302,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wealthfront Advisers LLC grew its holdings in shares of SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock valued at $229,648,000 after purchasing an additional 1,122,064 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of SBA Communications by 212.3% in the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after purchasing an additional 278,737 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

SBAC stock opened at $223.15 on Wednesday. The company has a fifty day moving average price of $208.18 and a 200 day moving average price of $220.21. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 1.99%. SBA Communications’s dividend payout ratio is 63.98%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays decreased their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, 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. Five investment 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, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $252.54.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were 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 directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.