Keybank National Association OH Sells 1,408 Shares of SBA Communications Co. (NASDAQ:SBAC)

Keybank National Association OH cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 53.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,251 shares of the technology company’s stock after selling 1,408 shares during the quarter. Keybank National Association OH’s holdings in SBA Communications were worth $255,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its stake in shares of SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after acquiring an additional 50 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares in the last quarter. Auxano Advisors LLC raised its stake in shares of SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after acquiring an additional 54 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after acquiring an additional 61 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SBAC. JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Five equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the business’s 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 in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 2.0 %

NASDAQ:SBAC opened at $220.42 on Wednesday. The stock has a market cap of $23.72 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The firm’s fifty day simple moving average is $206.33 and its 200 day simple moving average is $220.51. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is 63.98%.

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.