Royal London Asset Management Ltd. Sells 444 Shares of SBA Communications Co. (NASDAQ:SBAC)

Royal London Asset Management Ltd. trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,456 shares of the technology company’s stock after selling 444 shares during the quarter. Royal London Asset Management Ltd.’s holdings in SBA Communications were worth $10,691,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of SBAC. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $1,418,000. PNC Financial Services Group Inc. grew its stake in shares of SBA Communications by 11.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,742 shares of the technology company’s stock worth $4,270,000 after acquiring an additional 1,799 shares in the last quarter. Jennison Associates LLC bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $1,693,000. Charles Schwab Investment Management Inc. grew its stake in shares of SBA Communications by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after acquiring an additional 62,555 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $1,761,000. 97.35% of the stock is owned by institutional investors.

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 stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $221.64 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 0.74 and a beta of 0.74. The business has a fifty day simple moving average of $209.59 and a two-hundred day simple moving average of $220.10.

SBA Communications Increases Dividend

The company 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. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SBAC shares. BMO Capital Markets reaffirmed 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. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company raised their target price 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. JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $252.85.

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.