M.D. Sass LLC Sells 21,147 Shares of SBA Communications Co. (NASDAQ:SBAC)

M.D. Sass LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 290,925 shares of the technology company’s stock after selling 21,147 shares during the quarter. SBA Communications accounts for 4.5% of M.D. Sass LLC’s portfolio, making the stock its 13th biggest position. M.D. Sass LLC’s holdings in SBA Communications were worth $59,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. State Street Corp boosted its holdings in SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after acquiring an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of SBA Communications by 16.6% during 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. Diamond Hill Capital Management Inc. boosted its holdings in SBA Communications by 8.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after purchasing an additional 142,054 shares during the last quarter. Victory Capital Management Inc. grew its position in SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after purchasing an additional 38,725 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 1.3 %

SBAC opened at $218.69 on Tuesday. The firm has a 50-day moving average price of $210.06 and a 200-day moving average price of $219.90. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market capitalization of $23.53 billion, a price-to-earnings ratio of 34.49, a PEG 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. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. SBA Communications’s payout ratio is presently 63.98%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price 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. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $252.85.

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.