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SBA Communications Corporation (NASDAQ:SBAC) Stock Position Lowered by Nisa Investment Advisors LLC

SBA Communications logo with Finance background

Nisa Investment Advisors LLC decreased its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,971 shares of the technology company's stock after selling 36,982 shares during the quarter. Nisa Investment Advisors LLC's holdings in SBA Communications were worth $8,134,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in SBA Communications in the 1st quarter valued at about $28,000. Graney & King LLC acquired a new stake in SBA Communications during the fourth quarter valued at approximately $29,000. NBC Securities Inc. grew its position in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares during the last quarter. Wayfinding Financial LLC acquired a new position in SBA Communications in the first quarter worth approximately $51,000. Finally, Farther Finance Advisors LLC grew its position in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after buying an additional 45 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 0.6%

SBAC stock opened at $232.79 on Friday. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The company has a fifty day simple moving average of $231.95 and a 200 day simple moving average of $219.13. The firm has a market cap of $25.01 billion, a PE ratio of 31.93, a PEG ratio of 1.93 and a beta of 0.78.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's payout ratio is presently 60.91%.

Insider Activity

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.92% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research note on Tuesday, May 20th. Citigroup raised their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. 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 research note on Tuesday, April 29th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

View Our Latest Report on SBAC

About SBA Communications

(Free Report)

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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Institutional Ownership by Quarter for SBA Communications (NASDAQ: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.

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