SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,600 shares of the technology company's stock after selling 27,016 shares during the period. Federated Hermes Inc. owned 0.09% of SBA Communications worth $25,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company's stock worth $42,000 after acquiring an additional 45 shares in the last quarter. Quaero Capital S.A. boosted its holdings in SBA Communications by 1.4% during the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company's stock worth $946,000 after purchasing an additional 50 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in SBA Communications by 5.7% during the third quarter. Moody National Bank Trust Division now owns 1,157 shares of the technology company's stock worth $232,000 after purchasing an additional 62 shares during the last quarter. Pinnacle Bancorp Inc. boosted its holdings in SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company's stock worth $40,000 after purchasing an additional 67 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in SBA Communications by 12.0% during the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company's stock worth $171,000 after purchasing an additional 72 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBAC shares. BMO Capital Markets cut their price target on shares of SBA Communications from $285.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, February 27th. Bank of America upgraded shares of SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. Finally, Barclays cut their price target on shares of SBA Communications from $260.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Buy" and an average price target of $268.00.

SBA Communications Trading Up 0.4 %

Shares of NASDAQ SBAC traded up $0.74 during midday trading on Monday, hitting $196.80. The company's stock had a trading volume of 982,879 shares, compared to its average volume of 995,832. The stock has a fifty day moving average price of $211.29 and a 200 day moving average price of $222.75. SBA Communications Co. has a one year low of $185.23 and a one year high of $263.08. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.36). The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business's revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $3.11 EPS. On average, equities research analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.98 dividend. This is a positive change from SBA Communications's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. SBA Communications's dividend payout ratio is presently 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company's stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company's stock.

About SBA Communications

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.