SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 14.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,779 shares of the technology company’s stock after selling 2,547 shares during the period. Gotham Asset Management LLC’s holdings in SBA Communications were worth $3,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. increased its holdings in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 2.9%

SBAC stock opened at $229.09 on Friday. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 0.74 and a beta of 0.83. The business has a fifty day simple moving average of $224.21 and a 200-day simple moving average of $216.03. SBA Communications Co. has a 52 week low of $185.44 and a 52 week high of $252.64.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.94%. SBA Communications’s dividend payout ratio (DPR) is 60.91%.

Insider Buying and Selling

In related news, Director Jack Langer sold 5,000 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SBAC has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Citigroup increased their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Barclays increased their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.38.

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.