SBA Communications Co. (NASDAQ:SBAC) VP Joshua Koenig Sells 2,209 Shares

SBA Communications Co. (NASDAQ:SBAC) VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SBA Communications Stock Down 1.8 %

Shares of NASDAQ:SBAC opened at $216.48 on Thursday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 0.74 and a beta of 0.74. The business has a 50-day moving average price of $206.59 and a 200-day moving average price of $220.49.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBAC. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.54.

Institutional Trading of SBA Communications

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the last quarter. Janney Montgomery Scott LLC grew its position in SBA Communications by 59.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock worth $973,000 after purchasing an additional 1,511 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications during the 3rd quarter valued at about $35,000. CWA Asset Management Group LLC acquired a new position in shares of SBA Communications in the 3rd quarter valued at about $331,000. Finally, Assetmark Inc. boosted its stake in shares of SBA Communications by 4,633.3% in the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock worth $103,000 after buying an additional 417 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.