Swiss National Bank Lowers Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Swiss National Bank lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 303,500 shares of the technology company’s stock after selling 15,400 shares during the quarter. Swiss National Bank’s holdings in SBA Communications were worth $61,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the fourth quarter worth $27,000. Oakworth Capital Inc. boosted its stake in 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 purchasing an additional 144 shares in the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter valued at about $56,000. Versant Capital Management Inc increased its stake in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new position in shares of SBA Communications in the fourth quarter worth approximately $73,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $218.23 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm has a fifty day moving average price of $207.20 and a 200-day moving average price of $220.32. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently declared 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. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBAC. Wells Fargo & Company raised their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Barclays dropped their price objective 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. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, 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 on the stock. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.54.

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.