Metis Global Partners LLC Reduces Position in SBA Communications Co. (NASDAQ:SBAC)

Metis Global Partners LLC cut its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,310 shares of the technology company’s stock after selling 217 shares during the period. Metis Global Partners LLC’s holdings in SBA Communications were worth $1,082,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth about $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the 4th quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications in the 3rd quarter valued at about $35,000. Oakworth Capital Inc. boosted its position in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after buying an additional 144 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Wells Fargo & Company boosted their price objective 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. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $253.07.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Up 1.7 %

NASDAQ:SBAC opened at $221.51 on Tuesday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The firm has a 50 day moving average of $204.17 and a 200 day moving average of $220.47. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 0.74 and a beta of 0.69.

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 dividend of $1.11 per share. 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 2.00%. SBA Communications’s dividend payout ratio is presently 63.98%.

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.