KBC Group NV Sells 58,093 Shares of SBA Communications Corporation (NASDAQ:SBAC)

KBC Group NV lessened its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 351,930 shares of the technology company's stock after selling 58,093 shares during the period. KBC Group NV owned about 0.33% of SBA Communications worth $77,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBAC. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications during the first quarter valued at about $28,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $29,000. NBC Securities Inc. boosted its stake in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares in the last quarter. Farther Finance Advisors LLC boosted its stake 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 purchasing an additional 45 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of SBA Communications by 75.8% during the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

SBAC has been the topic of a number of recent research reports. Bank of America initiated coverage on SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Morgan Stanley initiated coverage on SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. JMP Securities lifted their price target on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 29th. Finally, BMO Capital Markets lifted their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the business'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 value of $1,202,950.00. Following the transaction, the director now directly owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.92% of the company's stock.

SBA Communications Price Performance

SBA Communications stock opened at $230.80 on Friday. The stock's 50 day moving average is $231.06 and its 200 day moving average is $217.46. The firm has a market cap of $24.80 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.91 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

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.

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