Bamco Inc. NY Reduces Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Bamco Inc. NY reduced its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,505 shares of the technology company's stock after selling 11,374 shares during the period. Bamco Inc. NY's holdings in SBA Communications were worth $9,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at approximately $27,000. Graney & King LLC purchased a new position in shares of SBA Communications in the fourth quarter worth $29,000. Oakworth Capital Inc. grew its holdings in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares during the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications in the 4th quarter valued at $56,000. Finally, Sherman Asset Management Inc. purchased a new position in SBA Communications in the 4th quarter worth $73,000. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Trading Up 0.5 %

Shares of SBAC stock opened at $241.96 on Monday. The company has a market capitalization of $26.04 billion, a P/E ratio of 38.16, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64. The business's 50 day moving average is $221.64 and its two-hundred day moving average is $216.22.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.84%. SBA Communications's dividend payout ratio is currently 60.91%.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SBAC shares. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Barclays lifted their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. JMP Securities increased their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. StockNews.com downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.38.

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.

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