Lbp Am Sa Sells 6,327 Shares of SBA Communications Corporation (NASDAQ:SBAC)

LBP AM SA trimmed its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,705 shares of the technology company's stock after selling 6,327 shares during the period. LBP AM SA owned about 0.08% of SBA Communications worth $19,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new position in SBA Communications in the first quarter worth $28,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter worth $29,000. NBC Securities Inc. boosted its stake in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after purchasing an additional 189 shares in the last quarter. Wayfinding Financial LLC acquired a new position in SBA Communications in the first quarter worth $51,000. Finally, Farther Finance Advisors LLC lifted 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 acquiring an additional 45 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Insider Transactions at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the transaction, the director directly owned 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.92% of the company's stock.

Analyst Ratings Changes

SBAC has been the topic of several research reports. Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research note on Tuesday, May 20th. UBS Group upped their price target on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday. 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. Finally, Barclays upped their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $255.53.

SBA Communications Price Performance

Shares of SBA Communications stock traded up $0.03 during trading hours on Wednesday, hitting $234.27. The company's stock had a trading volume of 725,225 shares, compared to its average volume of 879,605. SBA Communications Corporation has a 12 month low of $191.79 and a 12 month high of $252.64. The stock has a 50 day moving average of $232.29 and a 200 day moving average of $218.82. The company has a market capitalization of $25.17 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

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.