National Pension Service Sells 21,588 Shares of SBA Communications Co. (NASDAQ:SBAC)

National Pension Service decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,378 shares of the technology company’s stock after selling 21,588 shares during the quarter. National Pension Service owned about 0.15% of SBA Communications worth $32,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC lifted its stake in 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 worth $225,000 after acquiring an additional 61 shares during the period. Los Angeles Capital Management LLC lifted its stake in SBA Communications by 28.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 116,021 shares of the technology company’s stock worth $23,645,000 after acquiring an additional 25,621 shares during the period. FourThought Financial Partners LLC purchased a new stake in SBA Communications in the fourth quarter worth $375,000. Bank of New York Mellon Corp lifted its stake in SBA Communications by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 736,183 shares of the technology company’s stock worth $150,034,000 after acquiring an additional 61,671 shares during the period. Finally, Skylands Capital LLC lifted its stake in SBA Communications by 66.0% in the fourth quarter. Skylands Capital LLC now owns 69,220 shares of the technology company’s stock worth $14,107,000 after acquiring an additional 27,510 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays lowered their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Finally, JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.07.

SBA Communications Price Performance

SBAC opened at $217.90 on Friday. The stock has a 50-day moving average price of $203.81 and a 200-day moving average price of $220.39. The firm has a market cap of $23.43 billion, a PE ratio of 34.37, a P/E/G ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

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.