SBA Communications Corporation (NASDAQ:SBAC) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,990 shares of the technology company's stock after selling 14,020 shares during the quarter. Brown Advisory Inc. owned 0.05% of SBA Communications worth $12,978,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Dodge & Cox increased its stake in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after buying an additional 5,722,740 shares during the period. Geode Capital Management LLC grew its stake in SBA Communications by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock worth $586,827,000 after acquiring an additional 71,023 shares in the last quarter. Deutsche Bank AG increased its position 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 acquiring an additional 134,624 shares during the period. Cohen & Steers Inc. raised 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 valued at $383,762,000 after acquiring an additional 432,644 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 142,054 shares during the period. Institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 1.7%

Shares of NASDAQ SBAC traded down $3.99 during midday trading on Friday, reaching $228.80. The company had a trading volume of 678,942 shares, compared to its average volume of 877,043. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The business's 50-day simple moving average is $231.95 and its 200 day simple moving average is $219.13. The stock has a market cap of $24.58 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.92 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. Stockholders of record on Thursday, May 22nd were given a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.94%. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBAC. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a report on Tuesday, May 20th. BMO Capital Markets upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. JMP Securities upped their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Finally, Barclays boosted their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $255.53.

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 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.92% of the company's stock.

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.