Zurcher Kantonalbank Zurich Cantonalbank Has $5.10 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,038 shares of the technology company’s stock after selling 2,910 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SBA Communications were worth $5,103,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Oak Thistle LLC increased its stake in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank lifted its holdings in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after acquiring an additional 249,610 shares during the period. First Hawaiian Bank raised its stake in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 1.7 %

SBAC opened at $218.23 on Friday. The company has a fifty day moving average price of $207.20 and a two-hundred day moving average price of $220.38. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a market cap of $23.48 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

Analysts Set New Price Targets

SBAC has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Barclays cut their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction 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 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. 1.30% of the stock is owned by company insiders.

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.