Insider Selling: SBA Communications Co. (NASDAQ:SBAC) VP Sells 2,209 Shares of Stock

SBA Communications Co. (NASDAQ:SBAC) VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

SBA Communications Stock Up 0.5 %

NASDAQ SBAC traded up $1.18 on Monday, reaching $224.91. The company had a trading volume of 1,453,483 shares, compared to its average volume of 847,459. The firm’s 50 day moving average price is $206.00 and its 200 day moving average price is $220.56. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a market capitalization of $24.18 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 13th. SBA Communications’s payout ratio is currently 63.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBAC. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. 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 target price for the company. Finally, Wells Fargo & Company lifted 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. 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $252.54.

Hedge Funds Weigh In On SBA Communications

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the fourth quarter valued at $27,000. Graney & King LLC bought a new position in SBA Communications during the fourth quarter valued at $29,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications in the 3rd quarter worth $35,000. Finally, Oakworth Capital Inc. increased 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 buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.