SBA Communications Co. (NASDAQ:SBAC) Shares Sold by US Bancorp DE

US Bancorp DE reduced its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 19,709 shares of the technology company’s stock after selling 409 shares during the quarter. US Bancorp DE’s holdings in SBA Communications were worth $4,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SBAC. Farther Finance Advisors LLC boosted its position 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 worth $52,000 after acquiring an additional 53 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of SBA Communications by 59.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock worth $973,000 after acquiring an additional 1,511 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of SBA Communications by 23.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,777 shares of the technology company’s stock worth $668,000 after acquiring an additional 536 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of SBA Communications by 12.8% during the 3rd quarter. Van ECK Associates Corp now owns 25,644 shares of the technology company’s stock worth $6,249,000 after acquiring an additional 2,905 shares in the last quarter. Finally, National Pension Service boosted its position in shares of SBA Communications by 12.8% during the 3rd quarter. National Pension Service now owns 178,966 shares of the technology company’s stock worth $43,077,000 after acquiring an additional 20,307 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several analyst reports. JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Trading Up 0.5 %

Shares of SBAC stock opened at $220.38 on Thursday. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The stock has a 50 day simple moving average of $204.87 and a 200-day simple moving average of $220.48. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase 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 related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’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 value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now 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. Company insiders own 1.30% of the company’s stock.

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.