Guggenheim Capital LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 79.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,056 shares of the technology company's stock after selling 11,733 shares during the quarter. Guggenheim Capital LLC's holdings in SBA Communications were worth $623,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after buying an additional 605,872 shares during the period. Geode Capital Management LLC grew its stake in shares of SBA Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock worth $586,827,000 after purchasing an additional 71,023 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of SBA Communications by 29.8% in the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after buying an additional 432,644 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock worth $379,290,000 after purchasing an additional 142,054 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after buying an additional 565,137 shares during the period. Institutional investors own 97.35% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on SBAC shares. Barclays increased their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup increased their price target on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday. BMO Capital Markets upped their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Six investment 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $252.38.
Read Our Latest Stock Report on SBAC
SBA Communications Price Performance
Shares of SBAC stock traded down $3.08 during trading on Thursday, hitting $240.32. 149,390 shares of the stock traded hands, compared to its average volume of 901,568. The firm's fifty day moving average price is $220.63 and its 200-day moving average price is $216.70. The firm has a market capitalization of $25.86 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.
SBA Communications Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.85%. SBA Communications's payout ratio is 60.91%.
Insider Buying and Selling at SBA Communications
In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.92% of the company's stock.
About SBA Communications
(
Free Report)
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.
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