Gotham Asset Management LLC Has $3.01 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Gotham Asset Management LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,779 shares of the technology company's stock after selling 2,547 shares during the quarter. Gotham Asset Management LLC's holdings in SBA Communications were worth $3,012,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after acquiring an additional 273,237 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after buying an additional 605,872 shares during the period. Czech National Bank lifted its stake in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after buying an additional 1,421 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of SBA Communications by 29.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,630 shares of the technology company's stock valued at $944,000 after buying an additional 1,045 shares during the period. Finally, Steph & Co. boosted its holdings in shares of SBA Communications by 13.8% in the fourth quarter. Steph & Co. now owns 943 shares of the technology company's stock valued at $192,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Buying and Selling

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

SBA Communications Stock Up 1.0%

Shares of SBAC stock traded up $2.43 during trading on Monday, reaching $235.51. 540,316 shares of the company's stock were exchanged, compared to its average volume of 900,246. The firm's fifty day moving average price is $224.46 and its 200-day moving average price is $215.83. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64. The stock has a market capitalization of $25.34 billion, a PE ratio of 37.15, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio is presently 60.91%.

Analysts Set New Price Targets

Several research firms recently commented on SBAC. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research report on Tuesday, April 29th. BMO Capital Markets boosted their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Citigroup upped their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. 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. Finally, Morgan Stanley started coverage on SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target for the company. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $252.93.

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.