KBC Group NV Trims Stock Holdings in SBA Communications Corporation (NASDAQ:SBAC)

KBC Group NV lowered its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,930 shares of the technology company's stock after selling 58,093 shares during the period. KBC Group NV owned 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 modified their holdings of the stock. Independence Bank of Kentucky acquired a new position in SBA Communications in the 1st quarter worth about $28,000. Graney & King LLC bought a new stake in shares of SBA Communications during the fourth quarter worth about $29,000. NBC Securities Inc. increased its stake in shares of SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after buying an additional 189 shares during the period. Farther Finance Advisors LLC raised its holdings in SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after buying an additional 45 shares during the last quarter. Finally, State of Wyoming boosted its position in SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after buying an additional 119 shares during the period. Institutional investors own 97.35% of the company's stock.

Insiders Place Their Bets

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction 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 sale, the director directly owned 10,522 shares in the company, valued at $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 SEC, which is available through the SEC website. Company insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBAC. Bank of America initiated coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. BMO Capital Markets upped their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Raymond James Financial reiterated a "strong-buy" rating and set a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $253.43.

SBA Communications Stock Performance

SBAC stock traded down $1.15 during mid-day trading on Wednesday, hitting $237.59. The company had a trading volume of 728,227 shares, compared to its average volume of 881,332. SBA Communications Corporation has a 12 month low of $187.06 and a 12 month high of $252.64. The stock's fifty day moving average price is $231.39 and its two-hundred day moving average price is $217.76. The firm has a market cap of $25.53 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were issued a $1.11 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.87%. 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.