SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Ossiam

Ossiam trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,350 shares of the technology company’s stock after selling 165 shares during the quarter. Ossiam’s holdings in SBA Communications were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SBAC. Dodge & Cox grew its stake in shares of SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares during the last quarter. Norges Bank acquired a new stake in SBA Communications in the 4th quarter worth approximately $268,287,000. Wealthfront Advisers LLC grew its position in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. JPMorgan Chase & Co. increased 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 valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after buying an additional 565,137 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SBAC. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price for the company. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Barclays lifted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Six analysts have rated the stock with a hold rating, seven 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 stock has an average rating of “Moderate Buy” and an average price target of $251.92.

SBA Communications Stock Performance

SBAC stock opened at $229.06 on Monday. The firm’s fifty day moving average is $217.30 and its 200 day moving average is $216.82. The firm has a market cap of $24.65 billion, a PE ratio of 36.13, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.11 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 1.94%. SBA Communications’s dividend payout ratio is presently 63.98%.

Insiders Place Their Bets

In related news, 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 value 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. The trade was a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

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.