Integrated Advisors Network LLC Reduces Stock Holdings in SBA Communications Corporation (NASDAQ:SBAC)

Integrated Advisors Network LLC lowered its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 44.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,546 shares of the technology company's stock after selling 1,229 shares during the period. Integrated Advisors Network LLC's holdings in SBA Communications were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after acquiring an additional 45 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in SBA Communications by 2.3% in the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after buying an additional 50 shares during the last quarter. Auxano Advisors LLC lifted its stake in shares of SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after buying an additional 54 shares in the last quarter. DoubleLine ETF Adviser LP grew its holdings in shares of SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after buying an additional 57 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock worth $225,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $2,531,487.98. This represents a 32.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

SBA Communications Stock Down 0.3%

NASDAQ:SBAC traded down $0.74 during trading hours on Wednesday, hitting $227.78. 295,305 shares of the stock traded hands, compared to its average volume of 885,406. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.90 and a beta of 0.78. SBA Communications Corporation has a 1 year low of $187.06 and a 1 year high of $252.64. The stock has a 50 day moving average price of $229.58 and a 200 day moving average price of $216.87.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.95%. SBA Communications's dividend payout ratio is 60.91%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SBAC. Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Raymond James Financial reissued a "strong-buy" rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Morgan Stanley began coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

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.