SBA Communications Co. (NASDAQ:SBAC) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 66,334 shares of the technology company’s stock after selling 18,043 shares during the quarter. UniSuper Management Pty Ltd’s holdings in SBA Communications were worth $13,519,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co purchased a new stake in shares of SBA Communications in the 4th quarter valued at $2,212,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in SBA Communications by 3.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 163,079 shares of the technology company’s stock valued at $32,909,000 after purchasing an additional 5,307 shares during the period. Korea Investment CORP boosted its holdings in SBA Communications by 41.1% in the fourth quarter. Korea Investment CORP now owns 96,791 shares of the technology company’s stock valued at $19,726,000 after purchasing an additional 28,200 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in SBA Communications during the 4th quarter worth about $754,000. Finally, Graney & King LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.8 %

SBAC stock opened at $216.38 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The business’s 50-day moving average is $211.04 and its 200 day moving average is $219.68. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was 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 2.05%. SBA Communications’s payout ratio is currently 63.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays raised their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective 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. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $252.85.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on 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 owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company 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.