SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Partners Group Holding AG

Partners Group Holding AG lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,175 shares of the technology company’s stock after selling 7,776 shares during the period. SBA Communications comprises approximately 1.1% of Partners Group Holding AG’s holdings, making the stock its 21st biggest holding. Partners Group Holding AG’s holdings in SBA Communications were worth $30,198,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC purchased a new position in SBA Communications in the 4th quarter worth approximately $27,000. Oakworth Capital Inc. grew its holdings in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $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 worth $56,000. Versant Capital Management Inc lifted its holdings in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares in the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in SBA Communications in the 4th quarter valued at about $73,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBAC. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of 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 reaffirmed a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Barclays boosted their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Trading Up 0.3 %

Shares of NASDAQ SBAC opened at $221.64 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a market cap of $23.85 billion, a PE ratio of 34.96, a P/E/G ratio of 0.74 and a beta of 0.74. The stock has a 50 day simple moving average of $209.59 and a 200-day simple moving average of $220.10.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This is a boost 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 2.00%. The ex-dividend date is Thursday, March 13th. SBA Communications’s payout ratio is currently 63.98%.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

About SBA Communications

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.