SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Ossiam

Ossiam cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,350 shares of the technology company’s stock after selling 165 shares during the quarter. Ossiam’s holdings in SBA Communications were worth $1,294,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Oak Thistle LLC grew its position in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares in the last quarter. Czech National Bank boosted its stake in SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares during the last quarter. First Hawaiian Bank grew its holdings in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after buying an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after acquiring an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after acquiring an additional 226,878 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $229.06 on Monday. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 0.74 and a beta of 0.83. The firm has a 50 day simple moving average of $217.30 and a 200-day simple moving average of $216.82. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 1.94%. SBA Communications’s payout ratio is 63.98%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SBAC shares. 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 objective for the company. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays upped their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.92.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the business’s 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 transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.