Tredje AP fonden Has $1.74 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Tredje AP fonden lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 50.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,530 shares of the technology company’s stock after selling 8,529 shares during the period. Tredje AP fonden’s holdings in SBA Communications were worth $1,738,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SBAC. Janney Montgomery Scott LLC boosted its stake in SBA Communications by 59.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock valued at $973,000 after purchasing an additional 1,511 shares during the last quarter. Assetmark Inc. boosted its stake in SBA Communications by 4,633.3% during the 3rd quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock valued at $103,000 after purchasing an additional 417 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC boosted its stake in SBA Communications by 23.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after purchasing an additional 65 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of SBA Communications by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,236 shares of the technology company’s stock worth $53,974,000 after buying an additional 3,207 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. 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. Finally, StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.54.

SBA Communications Price Performance

Shares of SBAC stock opened at $218.23 on Friday. The company’s fifty day simple moving average is $207.20 and its two-hundred day simple moving average is $220.38. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. SBA Communications’s payout ratio is presently 63.98%.

Insider Buying and Selling at SBA Communications

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 completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the vice president now 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 disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.