SBA Communications Corporation (NASDAQ:SBAC) Stock Holdings Lessened by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in SBA Communications by 38.6%, now owning 12,725 shares valued at approximately $2.8 million.
• Director Jack Langer sold 5,000 shares at an average price of $240.59, resulting in a 32.21% decrease in his position.
• Equities analysts have set a consensus price target of $257.19 for SBA Communications, with ratings ranging from "strong buy" to "hold."

Knights of Columbus Asset Advisors LLC lowered its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 38.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,725 shares of the technology company's stock after selling 7,999 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in SBA Communications were worth $2,800,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Independence Bank of Kentucky purchased a new position in SBA Communications during the 1st quarter worth approximately $28,000. Graney & King LLC purchased a new position in SBA Communications during the 4th quarter worth approximately $29,000. Allworth Financial LP grew its position in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after purchasing an additional 62 shares in the last quarter. NBC Securities Inc. grew its position 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 purchasing an additional 189 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in SBA Communications during the 1st quarter worth approximately $51,000. Institutional investors own 97.35% of the company's stock.

Insiders Place Their Bets

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on SBAC shares. Raymond James Financial reiterated 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. Citigroup boosted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday. Scotiabank started coverage on shares of SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price target on the stock. Finally, UBS Group boosted their price target on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $257.19.

SBA Communications Price Performance

SBA Communications stock opened at $235.12 on Friday. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 1.96 and a beta of 0.78. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64. The firm has a fifty day moving average price of $231.69 and a two-hundred day moving average price of $221.29.

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 dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio is 60.91%.

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.

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