Commonwealth Equity Services LLC Has $2.42 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Commonwealth Equity Services LLC lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,891 shares of the technology company’s stock after selling 2,746 shares during the quarter. Commonwealth Equity Services LLC’s holdings in SBA Communications were worth $2,423,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc raised its stake in 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 lifted its holdings 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 valued at $495,000 after acquiring an additional 54 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after purchasing an additional 61 shares during the last quarter. Finally, Torray Investment Partners LLC grew its holdings in shares of SBA Communications by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company’s stock worth $1,995,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Barclays raised their price target on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. JMP Securities started coverage on 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 SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $252.85.

Insider Transactions at SBA Communications

In other 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 transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale 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 Stock Up 0.2 %

SBAC stock opened at $214.70 on Thursday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market cap of $23.10 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. The business’s fifty day moving average is $210.80 and its 200-day moving average is $219.70.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.07%. SBA Communications’s dividend payout ratio is presently 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.