Robeco Institutional Asset Management B.V. Trims Stake in SBA Communications Corporation (NASDAQ:SBAC)

Robeco Institutional Asset Management B.V. decreased its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,279 shares of the technology company's stock after selling 23,630 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in SBA Communications were worth $9,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications during the first quarter worth about $28,000. Graney & King LLC purchased a new stake in SBA Communications during the 4th quarter worth approximately $29,000. NBC Securities Inc. lifted its holdings in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares in the last quarter. Farther Finance Advisors LLC boosted its position in 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 buying an additional 45 shares during the period. Finally, State of Wyoming grew its stake in shares of SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after acquiring an additional 119 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.1%

Shares of SBAC traded down $2.52 on Thursday, reaching $235.08. The stock had a trading volume of 524,755 shares, compared to its average volume of 878,513. SBA Communications Corporation has a twelve month low of $189.07 and a twelve month high of $252.64. The firm has a market capitalization of $25.26 billion, a PE ratio of 32.25, a PEG ratio of 1.97 and a beta of 0.78. The firm has a 50-day moving average of $231.67 and a 200 day moving average of $217.90.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Insiders Place Their Bets

In other news, Director Jack Langer sold 5,000 shares of SBA Communications 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 transaction, the director owned 10,522 shares of the company's stock, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SBAC shares. Citigroup increased their price objective on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley initiated coverage on SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target for the company. BMO Capital Markets boosted their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Wall Street Zen cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

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.