Mutual of America Capital Management LLC Cuts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Mutual of America Capital Management LLC cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,880 shares of the technology company’s stock after selling 354 shares during the period. Mutual of America Capital Management LLC’s holdings in SBA Communications were worth $2,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Victory Capital Management Inc. raised its holdings in shares of SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after purchasing an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. raised its stake in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. KBC Group NV raised its stake in SBA Communications by 212.3% during the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock worth $83,562,000 after acquiring an additional 278,737 shares in the last quarter. Finally, Barclays PLC raised its stake in SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after acquiring an additional 273,237 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 2.3 %

SBAC stock opened at $223.73 on Friday. The company has a market cap of $24.06 billion, a P/E ratio of 35.29, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company’s 50-day moving average price is $205.57 and its 200 day moving average price is $220.50.

SBA Communications Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 1.98%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

Analysts Set New Price Targets

SBAC has been the topic of several research analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. JMP Securities assumed coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted 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 note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.54.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated 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 transaction, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $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 company insiders.

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.