SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its holdings in SBA Communications Co. (NASDAQ:SBAC) by 25.4% during the fourth quarter, HoldingsChannel reports. The fund owned 1,235 shares of the technology company’s stock after selling 420 shares during the period. Cullen Frost Bankers Inc.’s holdings in SBA Communications were worth $252,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the third quarter valued at approximately $26,000. Evermay Wealth Management LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the third quarter valued at approximately $35,000. Oakworth Capital Inc. lifted its holdings in SBA Communications by 161.8% in 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 during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in SBA Communications by 32.5% in the third 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 last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company upped their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays decreased their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Finally, JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.54.

SBA Communications Trading Up 2.3 %

SBA Communications stock opened at $223.73 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock’s fifty day simple moving average is $205.57 and its 200-day simple moving average is $220.51. The firm has a market capitalization of $24.06 billion, a P/E ratio of 35.29, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is 63.98%.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the 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 completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.