Tower Research Capital LLC TRC Has $672,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Tower Research Capital LLC TRC lessened its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,298 shares of the technology company's stock after selling 4,243 shares during the period. Tower Research Capital LLC TRC's holdings in SBA Communications were worth $672,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SBAC. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter worth about $27,000. Graney & King LLC bought a new position in shares of SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. lifted its stake in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group bought a new stake in SBA Communications in the fourth quarter valued at approximately $56,000. Finally, Versant Capital Management Inc increased its position in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after purchasing an additional 53 shares during the period. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

SBAC opened at $222.09 on Monday. The company's 50-day moving average is $219.14 and its 200 day moving average is $216.43. The firm has a market capitalization of $23.90 billion, a PE ratio of 35.03, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.00%. SBA Communications's payout ratio is presently 63.98%.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the business's 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 owns 6,079 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.92% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Barclays boosted their price target on SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.92.

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.

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