US Bancorp DE Decreases Stock Position in SBA Communications Co. (NASDAQ:SBAC)

US Bancorp DE cut its holdings in SBA Communications Co. (NASDAQ:SBAC) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,709 shares of the technology company’s stock after selling 409 shares during the quarter. US Bancorp DE’s holdings in SBA Communications were worth $4,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the third quarter worth about $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the fourth quarter worth about $27,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications in the third quarter worth about $35,000. Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% in 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. Finally, Oakworth Capital Inc. raised its stake in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 0.5 %

NASDAQ:SBAC opened at $220.38 on Thursday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company has a market capitalization of $23.70 billion, a P/E ratio of 34.76, a P/E/G ratio of 0.74 and a beta of 0.69. The stock’s fifty day moving average is $204.87 and its two-hundred day moving average is $220.48.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.01%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays dropped their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.07.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on 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 $1,016,743.14. This represents a 31.71 % 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.