Brown Advisory Inc. Sells 14,020 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Brown Advisory Inc. lessened its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 19.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,990 shares of the technology company's stock after selling 14,020 shares during the period. Brown Advisory Inc. owned approximately 0.05% of SBA Communications worth $12,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in shares of SBA Communications in the 1st quarter valued at $28,000. Graney & King LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at $29,000. NBC Securities Inc. boosted its stake in shares of SBA Communications by 1,575.0% in the 1st 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. Wayfinding Financial LLC purchased a new stake in shares of SBA Communications in the 1st quarter valued at $51,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Up 1.5%

NASDAQ SBAC traded up $3.54 during trading on Monday, hitting $232.34. The company had a trading volume of 461,107 shares, compared to its average volume of 873,507. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.89 and a beta of 0.78. The company's fifty day moving average is $231.69 and its 200-day moving average is $219.53.

SBA Communications Announces Dividend

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. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.91%. SBA Communications's payout ratio is 60.91%.

Analysts Set New Price Targets

SBAC has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research note on Tuesday, May 20th. Citigroup increased their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, BMO Capital Markets increased their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

Insider Activity

In related 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 value 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 trade represents a 32.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by insiders.

SBA Communications Company 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.