SBA Communications Corporation (NASDAQ:SBAC) Position Trimmed by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 85.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,291 shares of the technology company's stock after selling 37,218 shares during the period. SG Americas Securities LLC's holdings in SBA Communications were worth $1,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 valued at $55,000 after acquiring an additional 45 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings 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 worth $495,000 after buying an additional 50 shares in the last quarter. Auxano Advisors LLC boosted its position in SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after buying an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP grew its stake in shares of SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after acquiring an additional 57 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in shares of SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays increased their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Morgan Stanley started 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 target for the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. BMO Capital Markets raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday, April 29th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $253.43.

SBA Communications Stock Up 0.1%

SBAC stock traded up $0.17 during mid-day trading on Friday, reaching $228.49. The company had a trading volume of 388,399 shares, compared to its average volume of 886,036. SBA Communications Corporation has a one year low of $187.06 and a one year high of $252.64. The stock has a market capitalization of $24.55 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.89 and a beta of 0.78. The stock's 50-day simple moving average is $230.23 and its two-hundred day simple moving average is $216.99.

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 paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Insiders Place Their Bets

In other news, Director Jack Langer sold 5,000 shares of the stock in a transaction 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 transaction, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.92% of the stock is owned by insiders.

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.