Zurcher Kantonalbank Zurich Cantonalbank Has $5.10 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in SBA Communications Co. (NASDAQ:SBAC) by 10.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,038 shares of the technology company’s stock after selling 2,910 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SBA Communications were worth $5,103,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the third quarter valued at about $26,000. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. boosted its holdings in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications in the 4th quarter worth approximately $56,000. Finally, Versant Capital Management Inc grew 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 worth $73,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SBAC. 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 note on Wednesday, December 18th. Barclays reduced their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

SBA Communications Stock Up 1.7 %

Shares of SBAC stock opened at $218.23 on Friday. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a fifty day moving average of $207.20 and a 200-day moving average of $220.38.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.03%. SBA Communications’s payout ratio is presently 63.98%.

Insider Transactions at SBA Communications

In other 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 transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications 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.