SBA Communications Co. (NASDAQ:SBAC) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,457 shares of the technology company's stock after selling 31,952 shares during the period. Wellington Management Group LLP owned about 0.21% of SBA Communications worth $46,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SBAC. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in SBA Communications by 35.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company's stock worth $1,116,000 after buying an additional 1,435 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after buying an additional 50 shares in the last quarter. Blue Trust Inc. boosted its holdings in SBA Communications by 13.7% during the fourth quarter. Blue Trust Inc. now owns 2,716 shares of the technology company's stock worth $554,000 after buying an additional 327 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in SBA Communications by 99.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 65,909 shares of the technology company's stock worth $13,432,000 after buying an additional 32,885 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Bank of America started coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price objective on the stock. Wall Street Zen cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barclays lifted their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

SBA Communications Trading Down 1.5%

SBAC traded down $3.57 during trading on Tuesday, hitting $227.49. 252,347 shares of the company's stock were exchanged, compared to its average volume of 889,584. SBA Communications Co. has a 1 year low of $187.06 and a 1 year high of $252.64. The stock has a 50 day moving average price of $227.21 and a 200 day moving average price of $216.50. The firm has a market cap of $24.44 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.95%. SBA Communications's dividend payout ratio is currently 60.91%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction 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 transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now owns 10,522 shares of the company's stock, valued at $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 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.