American Century Companies Inc. Decreases Stake in SBA Communications Co. (NASDAQ:SBAC)

American Century Companies Inc. lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 63.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 442,247 shares of the technology company’s stock after selling 763,632 shares during the quarter. American Century Companies Inc.’s holdings in SBA Communications were worth $90,130,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SBAC. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter valued at approximately $27,000. Oakworth Capital Inc. increased its position in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the fourth quarter valued at $56,000. Versant Capital Management Inc lifted its position in SBA Communications by 17.3% during the fourth 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 during the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in shares of SBA Communications in the 4th quarter worth $73,000. Institutional investors own 97.35% of the company’s stock.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Barclays increased their price target on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications Price Performance

SBAC stock opened at $218.69 on Tuesday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The firm’s 50-day moving average is $210.06 and its 200 day moving average is $219.90. The company has a market capitalization of $23.53 billion, a PE ratio of 34.49, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This is a positive change 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 2.03%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

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.