Ensign Peak Advisors Inc Sells 33,510 Shares of SBA Communications Co. (NASDAQ:SBAC)

Ensign Peak Advisors Inc lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 37.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,005 shares of the technology company's stock after selling 33,510 shares during the quarter. Ensign Peak Advisors Inc owned about 0.05% of SBA Communications worth $11,618,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after acquiring an additional 50 shares during the period. Auxano Advisors LLC grew its stake in shares of 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 in the last quarter. DoubleLine ETF Adviser LP lifted its holdings in shares of SBA Communications by 0.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after buying an additional 57 shares during the period. Lake Street Advisors Group LLC lifted its holdings in shares of SBA Communications by 5.8% in the fourth 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 during the period. Finally, Orion Portfolio Solutions LLC boosted its position 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 valued at $1,011,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred 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 directly 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 filing with the SEC, which is available at the SEC website. Also, Director Jack Langer sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Raymond James reissued a "strong-buy" rating and issued a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. JMP Securities increased their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Finally, Barclays increased 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. Six equities research analysts have rated the stock with a hold rating, seven have assigned 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 a consensus target price of $252.38.

SBA Communications Price Performance

Shares of SBAC stock traded up $3.99 during trading on Friday, reaching $233.08. The company had a trading volume of 1,084,678 shares, compared to its average volume of 901,179. The firm's 50 day simple moving average is $224.21 and its two-hundred day simple moving average is $216.03. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64. The company has a market capitalization of $25.08 billion, a PE ratio of 36.76, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

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.