D. E. Shaw & Co. Inc. Sells 437,832 Shares of SBA Communications Co. (NASDAQ:SBAC)

D. E. Shaw & Co. Inc. lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 51.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 412,600 shares of the technology company’s stock after selling 437,832 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in SBA Communications were worth $84,088,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SBAC. Barclays PLC grew its stake in shares of SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock valued at $158,386,000 after purchasing an additional 273,237 shares during the last quarter. Tidal Investments LLC raised its holdings in SBA Communications by 8.8% during the 3rd quarter. Tidal Investments LLC now owns 2,868 shares of the technology company’s stock worth $690,000 after purchasing an additional 233 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 during the period. First Hawaiian Bank boosted its stake in shares of SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of SBA Communications by 2.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,856 shares of the technology company’s stock worth $582,000 after buying an additional 79 shares during the period. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Down 1.5 %

Shares of SBAC stock opened at $236.62 on Friday. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64. The firm has a fifty day moving average of $223.41 and a 200-day moving average of $216.48. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.88%. SBA Communications’s dividend payout ratio (DPR) is 60.91%.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective 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. Citigroup lifted their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. JMP Securities increased their target price on SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets increased their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.38.

Insider Transactions at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21 % decrease in their ownership of the stock. The sale 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 SBA Communications 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 transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

SBA Communications Company 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.