SBA Communications Corporation (NASDAQ:SBAC) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut 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 filing with the SEC. The firm owned 42,279 shares of the technology company's stock after selling 23,630 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in SBA Communications were worth $9,302,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Dodge & Cox boosted its stake in shares of SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares in the last quarter. Norges Bank bought a new stake in shares of SBA Communications during the 4th quarter worth $268,287,000. Wealthfront Advisers LLC boosted its stake in shares of SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock worth $229,648,000 after acquiring an additional 1,122,064 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in shares of SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after acquiring an additional 987,647 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction dated 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 sale, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SBAC shares. Barclays raised their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Bank of America started coverage on SBA Communications in a research report on Monday, May 19th. They issued a "buy" rating and a $260.00 target price for the company. Wall Street Zen cut SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Morgan Stanley started coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price for the company. Finally, 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 research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $253.43.

SBA Communications Price Performance

NASDAQ SBAC opened at $230.80 on Monday. SBA Communications Corporation has a fifty-two week low of $187.06 and a fifty-two week high of $252.64. The stock's 50-day moving average is $231.06 and its two-hundred day moving average is $217.47. The firm has a market cap of $24.80 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were paid a $1.11 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.92%. SBA Communications's payout ratio is presently 60.91%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.