SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,728 shares of the technology company’s stock after selling 222 shares during the period. Securian Asset Management Inc.’s holdings in SBA Communications were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its position 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 valued at $78,000 after acquiring an additional 50 shares during the period. Versant Capital Management Inc increased its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares during the period. Auxano Advisors LLC increased its position in shares of SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after acquiring an additional 54 shares during the period. Lake Street Advisors Group LLC increased its position in shares of SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after acquiring an additional 61 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of SBA Communications by 23.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after acquiring an additional 65 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 1.7 %

Shares of SBA Communications stock opened at $218.23 on Friday. The firm has a market capitalization of $23.48 billion, a PE ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm’s 50-day moving average price is $207.20 and its 200 day moving average price is $220.38.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $1.11 dividend. The ex-dividend date of this dividend 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 2.03%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Analyst Ratings Changes

Several research firms recently issued reports on SBAC. Barclays cut their target price 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. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. 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. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.54.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The shares were 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 in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.