Skylands Capital LLC Sells 11,645 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Skylands Capital LLC trimmed its stake 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 and Exchange Commission (SEC). The fund owned 57,575 shares of the technology company's stock after selling 11,645 shares during the quarter. SBA Communications makes up 1.8% of Skylands Capital LLC's investment portfolio, making the stock its 14th largest position. Skylands Capital LLC owned approximately 0.05% of SBA Communications worth $12,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crescent Grove Advisors LLC purchased a new stake in SBA Communications in the 1st quarter worth approximately $201,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SBA Communications by 11.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,463 shares of the technology company's stock valued at $3,136,000 after acquiring an additional 1,450 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in SBA Communications by 25.8% in the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after acquiring an additional 60 shares in the last quarter. Perpetual Ltd increased its position in SBA Communications by 37.8% during the 1st quarter. Perpetual Ltd now owns 177,560 shares of the technology company's stock valued at $39,065,000 after purchasing an additional 48,706 shares during the period. Finally, Spire Wealth Management increased its position in SBA Communications by 40.4% during the 1st quarter. Spire Wealth Management now owns 1,463 shares of the technology company's stock valued at $322,000 after purchasing an additional 421 shares during the period. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Performance

Shares of SBAC stock traded down $1.15 during mid-day trading on Wednesday, hitting $237.59. The company's stock had a trading volume of 728,227 shares, compared to its average volume of 881,332. The stock has a market cap of $25.53 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.94 and a beta of 0.78. SBA Communications Corporation has a 52-week low of $187.06 and a 52-week high of $252.64. The business has a 50-day moving average price of $231.39 and a 200 day moving average price of $217.76.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were given a dividend of $1.11 per share. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.87%. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Analyst Ratings Changes

SBAC has been the subject of several research analyst reports. Wall Street Zen cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barclays raised their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. Bank of America began coverage on SBA Communications in a research report on Monday, May 19th. They set a "buy" rating and a $260.00 price objective on the stock. Morgan Stanley assumed 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, Raymond James Financial restated a "strong-buy" rating and set a $268.00 price target (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the company's 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 sale, the director owned 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company's stock.

SBA Communications 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.