Los Angeles Capital Management LLC Has $12.08 Million Holdings in SBA Communications Corporation (NASDAQ:SBAC)

Los Angeles Capital Management LLC lowered its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 52.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 54,898 shares of the technology company's stock after selling 61,123 shares during the quarter. Los Angeles Capital Management LLC owned about 0.05% of SBA Communications worth $12,078,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SBAC. Farther Finance Advisors LLC raised its holdings in SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after acquiring an additional 50 shares during the period. DoubleLine ETF Adviser LP grew its stake in shares of SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock worth $1,577,000 after purchasing an additional 57 shares during the period. Oakworth Capital Inc. increased its holdings in shares of SBA Communications by 25.8% in the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its stake in shares of SBA Communications by 6.0% in the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock valued at $242,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Up 0.2%

SBAC traded up $0.47 during trading hours on Monday, hitting $234.37. 403,250 shares of the company's stock were exchanged, compared to its average volume of 869,608. The stock's 50-day moving average is $230.92 and its two-hundred day moving average is $220.57. SBA Communications Corporation has a 1-year low of $192.55 and a 1-year high of $252.64. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.93 and a beta of 0.78.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Insider Activity at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.92% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SBAC. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a report on Tuesday, May 20th. JMP Securities upped their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Barclays boosted their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Raymond James Financial reiterated a "strong-buy" rating and set a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Finally, BMO Capital Markets upped their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.31.

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.