SBA Communications Co. (NASDAQ:SBAC) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd decreased its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,344 shares of the technology company's stock after selling 10,112 shares during the quarter. USS Investment Management Ltd's holdings in SBA Communications were worth $4,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the 4th quarter worth approximately $27,000. Graney & King LLC purchased a new stake in SBA Communications during the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. increased its holdings in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares during the last quarter. CKW Financial Group bought a new position in SBA Communications in the fourth quarter worth approximately $56,000. Finally, State of Wyoming boosted its stake in shares of SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after acquiring an additional 119 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction that occurred 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 now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

SBA Communications Stock Down 1.7%

SBAC stock traded down $4.03 during trading on Wednesday, hitting $226.98. 222,585 shares of the company's stock traded hands, compared to its average volume of 894,499. The firm has a market capitalization of $24.39 billion, a P/E ratio of 35.78, a PEG ratio of 0.74 and a beta of 0.83. The business has a fifty day simple moving average of $226.17 and a two-hundred day simple moving average of $216.23. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.96%. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBAC. Citigroup upped their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. JMP Securities upped their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Barclays upped their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Raymond James restated a "strong-buy" rating and issued a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Finally, Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.43.

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.