Nisa Investment Advisors LLC lessened its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 50.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in SBA Communications by 2.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after buying an additional 50 shares in the last quarter. DoubleLine ETF Adviser LP grew its holdings in SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after buying an additional 57 shares during the last quarter. Oakworth Capital Inc. grew its holdings in SBA Communications by 25.8% during the 1st quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after buying an additional 60 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its position in SBA Communications by 6.0% during the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock worth $242,000 after buying an additional 62 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Jack Langer sold 5,000 shares of the company'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 sale, the director directly owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is owned by insiders.
SBA Communications Stock Performance
Shares of NASDAQ:SBAC traded up $3.54 during trading on Monday, reaching $232.34. 461,107 shares of the stock were exchanged, compared to its average volume of 868,917. The firm's 50-day moving average price is $231.69 and its 200 day moving average price is $219.53. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.89 and a beta of 0.78. SBA Communications Corporation has a 12-month low of $192.55 and a 12-month high of $252.64.
SBA Communications Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were paid a dividend of $1.11 per share. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.91%. SBA Communications's dividend payout ratio is currently 60.91%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on SBAC shares. Barclays increased their price objective on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research note on Tuesday, May 20th. Raymond James Financial reissued a "strong-buy" rating and issued a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. UBS Group raised their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.53.
Read Our Latest Stock Report on SBAC
SBA Communications Company Profile
(
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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