National Pension Service Sells 21,588 Shares of SBA Communications Co. (NASDAQ:SBAC)

National Pension Service reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.1% in the fourth quarter, HoldingsChannel reports. The firm owned 157,378 shares of the technology company’s stock after selling 21,588 shares during the quarter. National Pension Service’s holdings in SBA Communications were worth $32,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications during the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications during the 4th quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its stake in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the period. Finally, Oakworth Capital Inc. grew 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 valued at $47,000 after acquiring an additional 144 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SBAC shares. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price objective on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Finally, JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.07.

SBA Communications Price Performance

Shares of SBAC opened at $217.90 on Friday. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The business’s 50 day simple moving average is $203.81 and its 200-day simple moving average is $220.39.

SBA Communications Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.04%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is 63.98%.

Insider Transactions at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the business’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 value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.