Harbor Capital Advisors Inc. Sells 2,373 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Harbor Capital Advisors Inc. lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 83.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 483 shares of the technology company's stock after selling 2,373 shares during the period. Harbor Capital Advisors Inc.'s holdings in SBA Communications were worth $106,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. NewEdge Advisors LLC lifted its stake in shares of SBA Communications by 23.9% during the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $266,675,000 after acquiring an additional 38,725 shares during the period. GAMMA Investing LLC lifted its position in SBA Communications by 30,393.6% during the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after acquiring an additional 369,282 shares during the last quarter. NEOS Investment Management LLC lifted its position in SBA Communications by 29.3% during the fourth quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock worth $1,118,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares during the period. Institutional investors own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SBAC. Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Barclays increased their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Citigroup raised their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

SBA Communications Stock Down 0.1%

Shares of NASDAQ SBAC traded down $0.20 during midday trading on Thursday, reaching $228.32. 595,899 shares of the company were exchanged, compared to its average volume of 887,958. The stock's 50-day moving average price is $229.91 and its 200-day moving average price is $216.95. The stock has a market cap of $24.53 billion, a P/E ratio of 31.32, a PEG ratio of 1.89 and a beta of 0.78. SBA Communications Corporation has a one year low of $187.06 and a one year high of $252.64.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were issued a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.94%. SBA Communications's payout ratio is presently 60.91%.

Insiders Place Their Bets

In other news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

SBA Communications Company 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.