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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