Lbp Am Sa Decreases Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

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

A number of other hedge funds also recently bought and sold shares of SBAC. Dodge & Cox raised its holdings in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock worth $586,827,000 after purchasing an additional 71,023 shares during the last quarter. Deutsche Bank AG grew its stake in shares of SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock worth $491,549,000 after purchasing an additional 134,624 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of SBA Communications by 29.8% during the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock worth $383,762,000 after purchasing an additional 432,644 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in SBA Communications by 8.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock valued at $379,290,000 after buying an additional 142,054 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Activity at SBA Communications

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 shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director directly owned 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SBAC shares. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citigroup boosted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. 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 report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut 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. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.53.

SBA Communications Price Performance

Shares of SBAC stock traded down $0.38 during midday trading on Thursday, hitting $233.89. The company had a trading volume of 173,613 shares, compared to its average volume of 877,504. The stock has a market cap of $25.13 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 1.93 and a beta of 0.78. The company's 50 day simple moving average is $232.11 and its 200 day simple moving average is $218.92. SBA Communications Corporation has a 52-week low of $191.79 and a 52-week high of $252.64.

SBA Communications Dividend Announcement

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