SBA Communications Co. (NASDAQ:SBAC) Position Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836,443 shares of the technology company’s stock after selling 38,502 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.78% of SBA Communications worth $170,467,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at approximately $27,000. Oakworth Capital Inc. lifted its stake in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group bought a new stake in SBA Communications in the fourth quarter worth approximately $56,000. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 53 shares during the last quarter. Finally, Sherman Asset Management Inc. bought a new position in shares of SBA Communications during the 4th quarter valued at $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value 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 approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Trading Up 1.2 %

Shares of NASDAQ:SBAC opened at $220.90 on Tuesday. The business’s 50 day moving average is $207.64 and its 200-day moving average is $220.23. The firm has a market capitalization of $23.77 billion, a PE ratio of 34.84, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. 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. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Barclays dropped 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. Five investment 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. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $252.54.

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.