SBA Communications Corporation (NASDAQ:SBAC) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lessened its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,575 shares of the technology company's stock after selling 11,645 shares during the quarter. SBA Communications makes up about 1.8% of Skylands Capital LLC's portfolio, making the stock its 14th biggest holding. Skylands Capital LLC owned approximately 0.05% of SBA Communications worth $12,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Independence Bank of Kentucky purchased a new position in shares of SBA Communications during the 1st quarter worth $28,000. Graney & King LLC purchased a new position in shares of SBA Communications during the 4th quarter worth $29,000. NBC Securities Inc. raised its holdings in shares of 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 acquiring an additional 189 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after acquiring an additional 45 shares during the period. Finally, State of Wyoming raised its holdings in shares of SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SBAC. Bank of America began coverage on SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. Barclays lifted their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. BMO Capital Markets raised their price objective 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. Raymond James Financial reissued 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, JMP Securities raised their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

SBA Communications Price Performance

NASDAQ SBAC opened at $230.80 on Friday. The company has a market cap of $24.80 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.91 and a beta of 0.78. The stock has a 50-day moving average of $231.06 and a two-hundred day moving average of $217.46. SBA Communications Corporation has a 1-year low of $187.06 and a 1-year high of $252.64.

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 given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.

Insider Buying and Selling at SBA Communications

In other SBA Communications 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 value of $1,202,950.00. Following the completion of the transaction, the director now directly owns 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 legal filing with the SEC, which is available through this link. 0.92% of the stock is currently owned by corporate 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.

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