Nisa Investment Advisors LLC Sells 36,982 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Nisa Investment Advisors LLC reduced its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in SBA Communications during the first quarter worth about $28,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the 4th quarter valued at approximately $29,000. NBC Securities Inc. boosted its stake in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of SBA Communications in the 1st quarter valued at approximately $51,000. Finally, Farther Finance Advisors LLC boosted its position in SBA Communications by 22.0% during the 1st 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 period. 97.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JMP Securities lifted their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Raymond James Financial reiterated 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. Bank of America initiated coverage on shares of SBA Communications in a research report on Monday, May 19th. They issued a "buy" rating and a $260.00 price target for the company. UBS Group lifted their price objective on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Seven 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.53.

SBA Communications Price Performance

Shares of SBAC traded down $3.99 during midday trading on Friday, hitting $228.80. 678,942 shares of the company traded hands, compared to its average volume of 877,043. The stock has a 50-day moving average of $231.95 and a 200-day moving average of $219.13. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64. The firm has a market cap of $24.58 billion, a P/E ratio of 31.39, a PEG ratio of 1.92 and a beta of 0.78.

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 $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company's stock.

SBA Communications Company 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.