Beacon Pointe Advisors LLC lessened its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,861 shares of the technology company's stock after selling 1,764 shares during the period. Beacon Pointe Advisors LLC's holdings in SBA Communications were worth $1,398,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of SBAC. Exchange Traded Concepts LLC increased its stake in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its stake in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after buying an additional 53 shares during the last quarter. Auxano Advisors LLC increased its position in SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after buying an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock worth $1,011,000 after purchasing an additional 64 shares during the period. Institutional investors own 97.35% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barclays raised their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.38.
Check Out Our Latest Analysis on SBAC
Insider Activity
In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred 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 owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company's stock.
SBA Communications Stock Performance
Shares of SBAC stock traded down $0.01 during trading hours on Monday, hitting $241.95. 700,854 shares of the company were exchanged, compared to its average volume of 897,869. The stock has a market capitalization of $26.04 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 0.74 and a beta of 0.83. The business's 50-day simple moving average is $221.64 and its two-hundred day simple moving average is $216.22. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64.
SBA Communications Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 1.84%. SBA Communications's dividend payout ratio is presently 60.91%.
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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