M.D. Sass LLC Has $59.29 Million Position in SBA Communications Co. (NASDAQ:SBAC)

M.D. Sass LLC trimmed its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,925 shares of the technology company’s stock after selling 21,147 shares during the quarter. SBA Communications makes up about 4.5% of M.D. Sass LLC’s portfolio, making the stock its 13th largest holding. M.D. Sass LLC owned about 0.27% of SBA Communications worth $59,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBAC. State Street Corp increased its stake in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after buying an additional 81,566 shares during the period. JPMorgan Chase & Co. grew its holdings in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of SBA Communications by 8.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock valued at $379,290,000 after acquiring an additional 142,054 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after purchasing an additional 565,137 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after purchasing an additional 38,725 shares during the period. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays increased their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $252.85.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $218.69 on Tuesday. The business has a 50-day simple moving average of $210.06 and a 200 day simple moving average of $219.90. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a market capitalization of $23.53 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications’s payout ratio is currently 63.98%.

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.