SBA Communications Co. (NASDAQ:SBAC) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,607 shares of the technology company's stock after selling 20,039 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in SBA Communications were worth $9,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moore Capital Management LP grew its position in SBA Communications by 16.0% in the 4th quarter. Moore Capital Management LP now owns 6,288 shares of the technology company's stock valued at $1,281,000 after acquiring an additional 869 shares in the last quarter. Janus Henderson Group PLC increased its stake in SBA Communications by 5.6% during the 4th quarter. Janus Henderson Group PLC now owns 182,792 shares of the technology company's stock worth $37,260,000 after buying an additional 9,688 shares during the period. GRS Advisors LLC boosted its position in SBA Communications by 1.7% in the 4th quarter. GRS Advisors LLC now owns 358,808 shares of the technology company's stock valued at $73,125,000 after buying an additional 6,092 shares during the period. Focus Partners Wealth acquired a new position in shares of SBA Communications in the fourth quarter worth $605,000. Finally, Ethic Inc. increased its position in shares of SBA Communications by 29.1% during the fourth quarter. Ethic Inc. now owns 6,271 shares of the technology company's stock worth $1,278,000 after acquiring an additional 1,414 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded down $1.88 on Wednesday, reaching $231.90. The company's stock had a trading volume of 591,747 shares, compared to its average volume of 898,182. SBA Communications Co. has a 52-week low of $185.44 and a 52-week high of $252.64. The stock has a market capitalization of $24.92 billion, a P/E ratio of 36.58, a PEG ratio of 0.74 and a beta of 0.83. The stock's 50-day moving average is $225.23 and its two-hundred day moving average is $216.03.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.91%. 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 SBA Communications 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack Langer sold 5,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.92% of the company's stock.

Analysts Set New Price Targets

SBAC has been the subject of several analyst reports. Citigroup boosted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Barclays raised their target price on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, BMO Capital Markets raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Seven 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.