Avantax Advisory Services Inc. Reduces Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Avantax Advisory Services Inc. cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,747 shares of the technology company’s stock after selling 1,101 shares during the period. Avantax Advisory Services Inc.’s holdings in SBA Communications were worth $1,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBAC. State Street Corp lifted its position in shares of SBA Communications by 1.8% during the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares in the last quarter. Victory Capital Management Inc. boosted its position in SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after buying an additional 565,137 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of SBA Communications by 23,553.0% during the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after acquiring an additional 1,122,064 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBAC. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Barclays reduced their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.54.

SBA Communications Trading Up 1.2 %

Shares of SBA Communications stock opened at $220.90 on Tuesday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company has a market cap of $23.77 billion, a P/E ratio of 34.84, a P/E/G ratio of 0.74 and a beta of 0.74. The stock has a 50-day moving average price of $207.64 and a 200 day moving average price of $220.23.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued 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 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the 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 in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated 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. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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.